feasibility of providing a credit rating for a type of entity or obligation that is materially different from the entities or obligations the CRA currently rates. 1.13 A CRA should establish and maintain a
, Portugal, the United States of America, and the People's Republic of China. The group structure contains both key operating companies, and holding companies or companies that do not currently materially
Republic of China. The group structure contains both key operating companies, and holding companies or companies that do not currently materially engage in business, with details as summarized below. 4.3.1
, Simple payback = Net Op CE/EBITDA in years Disclaimer: 2019 evolution over 2H17 is as per management best estimates and may change materially if there are changes in underlying assumptions due to external
materially misleading information. Clause 14 In case of providing services to a non-institutional investor, before opening a derivatives trading account or before trading derivatives for the client, an
false statement, concealment of material facts that are needed to be disclosed, nor statement that may be materially misleading. 2. Financial projection for the current year -None- 2 3. Pending material
a 45% increase in our core 2017 EBITDA in 2019. The business reality today is materially different to when the guidance was published. We therefore believe there is a meaningful upside to the
results may differ materially from information contained in these forward-looking statements as a result of a number of factors. We do not undertake to update our forward-looking statements to reflect