S&P: Uljanik Could Cost Croatia Up to 1% of GDP

first_imgThe financially troubled shipyard Uljanik could cost the Croatian government up to 1% of its gross domestic product, according to a report by Standard & Poor’s ratings agency.“Although we believe that contingent fiscal risks are contained, some state guarantees could be activated and fall on the government’s balance sheet,” S&P said.“In particular, the resolution of the troubled Uljanik shipyard, which is currently in search of a strategic investor and could otherwise face bankruptcy, could cost the government up to 1% of GDP. The precise cost however depends on the final scenario, and the possible finalization of ships under construction.”The rating report comes only days after Croatian shipbuilder Uljanik Group revealed its intention to sell 3. Maj shipyard in an effort to raise the much-needed funds.However, the group informed that there are currently no legal procedures underway for the spin off of the shipyard, as the struggling company continues its search for much needed funds.Uljanik added that no formal steps would be made on the matter until the restructuring program for Uljanik Shipyard is adopted.The company was forced to restructure amid a downturn in the global shipbuilding industry coupled with rising competition on the Asian continent.World Maritime News Stafflast_img read more

See More

Angels’ top prospects Jo Adell, Griffin Canning among non-roster invitees to spring training

Jo Adell, earlier this week ranked the No. 2 prospect in baseball by Baseball Prospectus, is among the non-roster players the Angels have invited to major league spring training.Adell, 19, was also ranked the No. 6 prospect in baseball by Baseball America.The Angels’ top pick in the 2017 draft, Adell just hit .290 with 20 homers in his first full pro season, rising to Double-A.Right-hander Griffin Canning, the Angels’ second-round pick out of UCLA in 2017, was also invited to big league camp. Jose Suarez, the Angels No. 2 pitching prospect, will also be in camp, as a member of the 40-man roster. Jose Suarez’s rocky start sinks Angels in loss to Astros Top prospects Jahmai Jones and Matt Thaiss have also been invited back for their second big league camp.Jared Walsh was invited to camp and listed as a two-way player. An outfielder and first baseman, Walsh began getting formal instruction as a pitcher in the fall.In all, the Angels invited 21 players. Pitchers Miguel Almonte, Alex Meyer, Matt Ramsey, Jeremy Rhoades, Forrest Snow and Canning; catchers Dustin Garneau, Jack Kruger, Julian Leon, Keinner Pina and Roberto Peña; infielders Wilfredo Tomar, Jones and Thaiss; outfielders Peter Bourjos, Brennan Lund, Jarrett Parker, Cesar Puello, Adell and Marsh; and Walsh.Related Articles Angels offense breaks out to split doubleheader with Astros Angels’ Mike Trout working on his defense, thanks to Twitter Angels’ Shohei Ohtani spending downtime working in outfield Angels’ poor pitching spoils an Albert Pujols milestone Newsroom GuidelinesNews TipsContact UsReport an Error read more

See More