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WASHINGTON, Oct 9 (Reuters) - U.S. House of RepresentativesRepublicans are considering signing on to a short-term increasein the government"s borrowing authority to buy time fornegotiations on broader policy measures, according to aRepublican leadership aide.
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However, political sources say this stance was dictated by Berlusconi"s lawyers, who wanted to avoid upsetting the supreme court judges. The mercurial magnate"s reaction if he is found guilty is uncertain.
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At end-2012, FM exhibited a gross leverage level of over of 4x, which is not consistent with an investment grade rating in the A&D sector. In the absence of cash proceeds from asset disposals, FM is reliant on free cash flow (FCF) generation to reduce debt levels. However, Fitch expects FCF generation in the next two years to be weak as a result of an uncertain defence market outlook, high capex needs, the drag from the loss-making Ansaldo Breda subsidiary and an operational profile only gradually improving from the recently undertaken and on-going restructuring measures.
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Republicans are also seeking concessions in exchange for raising the nation"s $16.7 trillion debt limit. If the borrowing cap is not increased, the United States could go into default, with what officials and economists say would be seriously damaging consequences for the U.S. and global economies.
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"Historically we Sindhis are not conservative or religious. We are secular," said Shahzaib Chandio, 30, as he scanned shelves at a local library for books about Europe. "Those terrorists are from tribal areas. Security is now very fragile."
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