Mueller Water Products

-15.8%

Live  

Mueller Water Products is a leading manufacturer and supplier of water infrastructure and flow control products for the water infrastructure industry. The company was founded in 1857 as Henry Ford's iron foundry and has since expanded to become a major player in the water infrastructure market. Their products include fire hydrants, valves, couplings, and metering systems, among others.
In addition to their products, Mueller Water Products also offers services such as engineering and design, training, and repair and maintenance for their products. They have a strong commitment to sustainability and have implemented environmentally-friendly practices, including promoting water conservation, reducing emissions, and using renewable energy sources in their manufacturing processes.
The company operates globally, with headquarters in Atlanta, Georgia, and manufacturing facilities in the US, Canada, and China. Their products are used in a variety of applications, including municipal water and wastewater systems, industrial infrastructure, and fire protection.
Mueller Water Products has a strong reputation for quality and innovation in the industry and has received several awards for their products and services. They also prioritize safety in their operations and have been recognized for their efforts in promoting a safe working environment for their employees.
Overall, Mueller Water Products is a respected and established company with a long history of providing reliable and sustainable water infrastructure solutions for their customers.

TXVlbGxlci BXYXRlciBQ cm9kdWN0cy BpcyBhIGNv bXBhbnkgdG hhdCBoZWxw cyBwcm92aW RlIGNsZWFu IGFuZCBzYW ZlIHdhdGVy IHRvIHBlb3 BsZS4gSW1h Z2luZSB0aG UgcGlwZXMg dGhhdCBicm luZyB3YXRl ciBpbnRvIH lvdXIgaG91 c2Ugb3IgdG hlIHRoaW5n cyB0aGF0IG hlbHAgY2xl YW4gb3VyIH dhdGVyIOKA lCB0aGF04o CZcyB3aGF0 IHRoZXkgbW FrZSEgPGJy PlRoZXkgY3 JlYXRlIGxv dHMgb2YgZG lmZmVyZW50 IHByb2R1Y3 RzLCBsaWtl IGJpZyBtZX RhbCB3YXRl ciBwaXBlcy wgc3BlY2lh bCB2YWx2ZX MgdGhhdCBj b250cm9sIH dhdGVyIGZs b3csIGFuZC B0b29scyB0 aGF0IGhlbH AgZmluZCBs ZWFrcyBpbi B0aGUgcGlw ZXMuIFRoZX NlIHRoaW5n cyBhcmUgcm VhbGx5IGlt cG9ydGFudC Bmb3IgY2l0 aWVzIGFuZC B0b3ducyB0 byBtYWtlIH N1cmUgZXZl cnlvbmUgaG FzIHdhdGVy IHdoZW4gdG hleSB0dXJu IG9uIHRoZW lyIGZhdWNl dHMuPGJyPl RoZSBjb21w YW55IG1ha2 VzIG1vbmV5 IGJ5IHNlbG xpbmcgdGhl c2UgcHJvZH VjdHMgdG8g Y2l0eSBnb3 Zlcm5tZW50 cyBhbmQgb3 RoZXIgYnVz aW5lc3Nlcy 4gV2hlbiBh IGNpdHkgbm VlZHMgdG8g Zml4IG9yIH VwZ3JhZGUg aXRzIHdhdG VyIHN5c3Rl bSwgaXQgYn V5cyBNdWVs bGVy4oCZcy Bwcm9kdWN0 cy4gVGhleS BhbHNvIHBy b3ZpZGUgc2 VydmljZXMs IGxpa2UgaG VscGluZyBj aXRpZXMgZm luZCBhbmQg Zml4IGxlYW tzIHF1aWNr bHkuIDxicj 5NdWVsbGVy IFdhdGVyIF Byb2R1Y3Rz IGlzIHN1Y2 Nlc3NmdWwg Zm9yIGEgZm V3IHJlYXNv bnMuIEZpcn N0LCB0aGVy ZeKAmXMgYW x3YXlzIGEg bmVlZCBmb3 IgY2xlYW4g d2F0ZXIsIH NvIGFzIGxv bmcgYXMgcG VvcGxlIGFy ZSBsaXZpbm cgaW4gY2l0 aWVzIGFuZC B0b3ducywg dGhleSB3aW xsIG5lZWQg d2hhdCBNdW VsbGVyIG1h a2VzLiBTZW NvbmQsIHRo ZSBjb21wYW 55IHdvcmtz IG9uIGltcH JvdmluZyB0 aGVpciBwcm 9kdWN0cyB0 byBtYWtlIH RoZW0gYmV0 dGVyIGFuZC Btb3JlIGVm ZmljaWVudC wgd2hpY2gg a2VlcHMgY3 VzdG9tZXJz IGhhcHB5Li BGaW5hbGx5 LCB0aGV5IG hhdmUgYSBs b3Qgb2YgZX hwZXJpZW5j ZSBhbmQga2 5vd2xlZGdl IGluIHRoZW lyIGZpZWxk LCB3aGljaC BoZWxwcyB0 aGVtIHN0YX kgYWhlYWQg b2Ygb3RoZX IgY29tcGFu aWVzLjxicj 5JbiB0aGUg ZnV0dXJlLC BhcyBtb3Jl IHBlb3BsZS Btb3ZlIHRv IGNpdGllcy BhbmQgdGhl IHdvcmxkIG dyb3dzLCB0 aGUgZGVtYW 5kIGZvciBj bGVhbiB3YX RlciB3aWxs IG9ubHkgZ2 V0IGJpZ2dl ci4gVGhpcy BtZWFucyBN dWVsbGVyIF dhdGVyIFBy b2R1Y3RzIH dpbGwga2Vl cCBtYWtpbm cgbW9uZXkg YW5kIHN0YX lpbmcgc3Vj Y2Vzc2Z1bC E8YnI+

MS4gRXN0YW JsaXNoZWQg aGlzdG9yeT ogVGhlIE11 ZWxsZXIgV2 F0ZXIgUHJv ZHVjdHMgY2 9tcGFueSBo YXMgYmVlbi BpbiBvcGVy YXRpb24gZm 9yIG92ZXIg MTYwIHllYX JzLCBtYWtp bmcgaXQgYS B3ZWxsLWVz dGFibGlzaG VkIGFuZCBl eHBlcmllbm NlZCBwbGF5 ZXIgaW4gdG hlIGluZHVz dHJ5Ljxicj 4yLiBEaXZl cnNpZmllZC Bwcm9kdWN0 IHBvcnRmb2 xpbzogVGhl IGNvbXBhbn kgb2ZmZXJz IGEgd2lkZS ByYW5nZSBv ZiBwcm9kdW N0cyBmb3Ig dGhlIHdhdG VyIGluZnJh c3RydWN0dX JlLCBpbmNs dWRpbmcgd2 F0ZXIgZGlz dHJpYnV0aW 9uLCB3YXN0 ZXdhdGVyLC BhbmQgZmly ZSBwcm90ZW N0aW9uIHN5 c3RlbXMuPG JyPjMuIElu bm92YXRpb2 4gYW5kIHRl Y2hub2xvZ3 k6IE11ZWxs ZXIgV2F0ZX IgUHJvZHVj dHMgaXMga2 5vd24gZm9y IGl0cyBjb2 1taXRtZW50 IHRvIGlubm 92YXRpb24g YW5kIHRlY2 hub2xvZ3ku IFRoZSBjb2 1wYW55IGhh cyBhIGRlZG ljYXRlZCBy ZXNlYXJjaC BhbmQgZGV2 ZWxvcG1lbn QgdGVhbSwg Y29uc3Rhbn RseSBzdHJp dmluZyB0by BpbXByb3Zl IHRoZWlyIH Byb2R1Y3Rz IGFuZCBwcm 9jZXNzZXMu PGJyPjQuIE hpZ2gtcXVh bGl0eSBwcm 9kdWN0czog VGhlIGNvbX BhbnkgaXMg a25vd24gZm 9yIHByb2R1 Y2luZyBoaW doLXF1YWxp dHkgYW5kIH JlbGlhYmxl IHByb2R1Y3 RzLiBUaGV5 IGhhdmUgc3 RyaWN0IHF1 YWxpdHkgY2 9udHJvbCBt ZWFzdXJlcy BpbiBwbGFj ZSB0byBlbn N1cmUgdGhl aXIgcHJvZH VjdHMgbWVl dCBpbmR1c3 RyeSBzdGFu ZGFyZHMuPG JyPjUuIFN1 c3RhaW5hYm xlIHNvbHV0 aW9uczogTX VlbGxlciBX YXRlciBQcm 9kdWN0cyBp cyBjb21taX R0ZWQgdG8g c3VzdGFpbm FiaWxpdHkg YW5kIHJlZH VjaW5nIHRo ZWlyIGVudm lyb25tZW50 YWwgaW1wYW N0LiBUaGV5 IG9mZmVyIH Byb2R1Y3Rz IGFuZCBzb2 x1dGlvbnMg dGhhdCBwcm 9tb3RlIHdh dGVyIGNvbn NlcnZhdGlv biBhbmQgZW ZmaWNpZW50 IGluZnJhc3 RydWN0dXJl IG1hbmFnZW 1lbnQuPGJy PjYuIFN0cm 9uZyBkaXN0 cmlidXRpb2 4gbmV0d29y azogVGhlIG NvbXBhbnkg aGFzIGEgc3 Ryb25nIGRp c3RyaWJ1dG lvbiBuZXR3 b3JrLCBlbn N1cmluZyB0 aGVpciBwcm 9kdWN0cyBh cmUgcmVhZG lseSBhdmFp bGFibGUgdG 8gY3VzdG9t ZXJzIGFjcm 9zcyB0aGUg Z2xvYmUuPG JyPjcuIEN1 c3RvbWVyIG ZvY3VzOiBN dWVsbGVyIF dhdGVyIFBy b2R1Y3RzIH ByaW9yaXRp emVzIGN1c3 RvbWVyIHNh dGlzZmFjdG lvbiBhbmQg d29ya3MgY2 xvc2VseSB3 aXRoIHRoZW 0gdG8gdW5k ZXJzdGFuZC B0aGVpciBu ZWVkcyBhbm QgcHJvdmlk ZSB0YWlsb3 JlZCBzb2x1 dGlvbnMuPG JyPjguIENv bW11bml0eS BpbnZvbHZl bWVudDogVG hlIGNvbXBh bnkgaXMgYW N0aXZlbHkg aW52b2x2ZW QgaW4gY29t bXVuaXR5IH NlcnZpY2Ug YW5kIHBoaW xhbnRocm9w aWMgaW5pdG lhdGl2ZXMs IGRlbW9uc3 RyYXRpbmcg dGhlaXIgY2 9tbWl0bWVu dCB0byBzb2 NpYWwgcmVz cG9uc2liaW xpdHkuPGJy PjkuIEV4cG VydGlzZSBh bmQga25vd2 xlZGdlOiBX aXRoIGRlY2 FkZXMgb2Yg ZXhwZXJpZW 5jZSBpbiB0 aGUgd2F0ZX IgaW5mcmFz dHJ1Y3R1cm UgaW5kdXN0 cnksIHRoZS Bjb21wYW55 IGhhcyBhIH dlYWx0aCBv ZiBrbm93bG VkZ2UgYW5k IGV4cGVydG lzZSB0byBv ZmZlciB0aG VpciBjdXN0 b21lcnMuPG JyPjEwLiBT dHJvbmcgZm luYW5jaWFs czogTXVlbG xlciBXYXRl ciBQcm9kdW N0cyBoYXMg YSBzdHJvbm cgZmluYW5j aWFsIHRyYW NrIHJlY29y ZCBhbmQgaG FzIGNvbnNp c3RlbnRseS BkZWxpdmVy ZWQgc3Ryb2 5nIHBlcmZv cm1hbmNlLC BtYWtpbmcg dGhlbSBhIH JlbGlhYmxl IHBhcnRuZX IgZm9yIGN1 c3RvbWVycy BhbmQgaW52 ZXN0b3JzIG FsaWtlLg==

VGhlIE11ZW xsZXIgV2F0 ZXIgUHJvZH VjdHMgY29t cGFueSdzIG J1c2luZXNz IG1vZGVsIG lzIHRvIGRl c2lnbiwgbW FudWZhY3R1 cmUsIGFuZC BzZWxsIHdh dGVyIGluZn Jhc3RydWN0 dXJlIGFuZC BmbG93IGNv bnRyb2wgcH JvZHVjdHMg c3VjaCBhcy B2YWx2ZXMs IGh5ZHJhbn RzLCBtZXRl cnMsIGFuZC BoeWRyYW50 IHJlcGFpci Bwcm9kdWN0 cyBmb3IgdX NlIGluIHJl c2lkZW50aW FsLCBjb21t ZXJjaWFsLC BhbmQgaW5k dXN0cmlhbC BzZXR0aW5n cy4gVGhlIG NvbXBhbnkg YWxzbyBvZm ZlcnMgc2Vy dmljZXMgc3 VjaCBhcyBp bnN0YWxsYX Rpb24sIG1h aW50ZW5hbm NlLCBhbmQg cmVwYWlyIG 9mIHRoZWly IHByb2R1Y3 RzLiBUaGV5 IHRhcmdldC BjdXN0b21l cnMgaW4gdG hlIHdhdGVy IGRpc3RyaW J1dGlvbiwg dHJhbnNtaX NzaW9uLCBh bmQgbWVhc3 VyZW1lbnQg bWFya2V0LC BhbmQgYWlt IHRvIHByb3 ZpZGUgaGln aC1xdWFsaX R5LCByZWxp YWJsZSwgYW 5kIGVmZmlj aWVudCBzb2 x1dGlvbnMg dG8gbWVldC B0aGVpciBj dXN0b21lcn MnIG5lZWRz LiBUaGUgY2 9tcGFueSBv cGVyYXRlcy B0aHJvdWdo IGl0cyB2YX Jpb3VzIGJy YW5kcywgaW 5jbHVkaW5n IE11ZWxsZX IgQ28uLCBV LlMuIFBpcG UsIEpvbmVz IFdhdGVyIF Byb2R1Y3Rz LCBhbmQgQW 52aWwgSW50 ZXJuYXRpb2 5hbC4gVGhl eSBhbHNvIG hhdmUgYSBm b2N1cyBvbi Bpbm5vdmF0 aW9uIGFuZC BzdXN0YWlu YWJpbGl0eS BpbiB0aGVp ciBwcm9kdW N0IGRldmVs b3BtZW50IG FuZCBvcGVy YXRpb25zLg ==

The Mueller Water Products company, which specializes in water management and infrastructure solutions, may face several potential challenges posed by AI, although the degree of threat will depend on various factors related to the company’s market, technology adoption, and industry trends.
1. Substitution:
AI could lead to the development of alternative technologies that may serve as substitutes for some of Mueller’s product offerings, especially in areas like water monitoring, leak detection, and data analytics. Advanced sensors and AI-driven analytics platforms could provide more efficient solutions, potentially replacing traditional products. However, Mueller has an established reputation and diverse product line, which may mitigate immediate substitution threats.
2. Disintermediation:
AI could facilitate direct communication between consumers and service providers, potentially reducing the need for intermediaries in the distribution of water management products. While this might threaten traditional distribution channels, Mueller’s existing relationships and established presence in the market could help them adapt and leverage these changes rather than being fully displaced.
3. Margin Pressure:
The integration of AI could enable competitors to optimize their operations and product offerings, leading to lower costs and improved efficiency. This could create margin pressure for Mueller if competitors can offer similar products at lower prices or enhanced performance. Furthermore, if AI allows new entrants to provide innovative solutions, Mueller may need to invest significantly in R&D to stay competitive, impacting profit margins.
In conclusion, while AI does present potential challenges in the form of substitution, disintermediation, and margin pressure, Mueller Water Products can respond to these threats through innovation, strategic partnerships, and leveraging its established market position. The ability to adapt and incorporate AI into its own product line and operations will be crucial for maintaining competitiveness in the evolving market landscape.

Mueller Water Products, like many companies, can have its earnings, cash flow, and valuation influenced by changes in interest rates due to several factors.
1. Cost of Debt: Higher interest rates typically increase borrowing costs for the company. If Mueller Water Products has debt, an increase in rates can lead to higher interest expenses, which may reduce net earnings and cash flow. Conversely, lower rates can reduce these expenses.
2. Investment Decisions: Changes in interest rates can affect the company’s decisions related to capital expenditures and investments. Higher rates might lead to delays in new projects or expansions since the cost of financing increases, potentially impacting future earnings growth.
3. Discount Rate in Valuation: Valuations based on discounted cash flow (DCF) models are sensitive to the discount rate used. An increase in interest rates raises the discount rate, which lowers the present value of future cash flows, ultimately reducing the valuation of the company. Conversely, lower interest rates would lead to a higher valuation.
4. Consumer Demand and Economic Conditions: Interest rate changes can influence the overall economic environment. Higher rates tend to slow down economic growth and consumer spending, which could negatively impact sales for Mueller Water Products if demand declines. Lower rates might stimulate demand and positively affect sales and cash flow.
5. Portfolio of Projects: If Mueller has a significant number of fixed-rate contracts or long-term projects financed at lower rates, these could insulate the company somewhat from immediate impacts of rising rates. However, new projects would still face higher costs.
In summary, Mueller Water Products’ earnings, cash flow, and valuation are sensitive to interest rate changes, primarily through increased borrowing costs, modifications to investment strategies, and alterations in the economic environment that can affect revenue. The degree of sensitivity would depend on the company’s financial structure, growth strategy, and market conditions.

QSByZWFsaX N0aWMgc2Nl bmFyaW8gdG hhdCBjb3Vs ZCBwZXJtYW 5lbnRseSBp bXBhaXIgTX VlbGxlciBX YXRlciBQcm 9kdWN0c+KA mSBlY29ub2 1pY3Mgb3Zl ciB0aGUgbm V4dCAzLTUg eWVhcnMgaW 52b2x2ZXMg YSBzdWJzdG FudGlhbCBz aGlmdCBpbi ByZWd1bGF0 b3J5IGZyYW 1ld29ya3Mg c3Vycm91bm Rpbmcgd2F0 ZXIgaW5mcm FzdHJ1Y3R1 cmUgYW5kIH N1c3RhaW5h YmlsaXR5Li BGb3IgZXhh bXBsZSwgaW YgdGhlIFUu Uy4gZmVkZX JhbCBhbmQg c3RhdGUgZ2 92ZXJubWVu dHMgd2VyZS B0byBpbXBs ZW1lbnQgc3 RyaWN0ZXIg d2F0ZXIgY2 9uc2VydmF0 aW9uIG1hbm RhdGVzIGFu ZCBwcm9tb3 RlIGEgdHJh bnNpdGlvbi B0byBhbHRl cm5hdGl2ZS B3YXRlciBt YW5hZ2VtZW 50IHN5c3Rl bXMsIHRoaX MgY291bGQg cmVkdWNlIH RoZSBkZW1h bmQgZm9yIH RyYWRpdGlv bmFsIHdhdG VyIGluZnJh c3RydWN0dX JlIHByb2R1 Y3RzLiBBZG RpdGlvbmFs bHksIGlmIH RoZXNlIHJl Z3VsYXRpb2 5zIHByaW9y aXRpemUgc3 VzdGFpbmFi bGUgYW5kIG lubm92YXRp dmUgd2F0ZX Igc29sdXRp b25zIG92ZX IgdHJhZGl0 aW9uYWwgb2 ZmZXJpbmdz LCBNdWVsbG VyIFdhdGVy IFByb2R1Y3 RzIG1heSBm aW5kIGl0cy BtYXJrZXQg cG9zaXRpb2 4gdGhyZWF0 ZW5lZC48Yn I+VW5kZXIg dGhpcyBzY2 VuYXJpbywg dGhlIGNvbX BhbnnigJlz IG1hcmdpbn MgY291bGQg YmUgbmVnYX RpdmVseSBh ZmZlY3RlZC 4gVGhlIHNo aWZ0IGF3YX kgZnJvbSBj b252ZW50aW 9uYWwgcHJv ZHVjdHMgbW F5IGxlYWQg dG8gcmVkdW NlZCBzYWxl cyB2b2x1bW VzLCBpbmNy ZWFzaW5nIG NvbXBldGl0 aW9uIGZyb2 0gY29tcGFu aWVzIHRoYX QgY2FuIGlu bm92YXRlIH F1aWNrbHkg b3IgYWRhcH QgdG8gbmV3 IHN0YW5kYX Jkcy4gQXMg YSByZXN1bH QsIHRoZSBw cmljaW5nIH Bvd2VyIG9m IE11ZWxsZX IgV2F0ZXIg UHJvZHVjdH MgbWlnaHQg ZGltaW5pc2 gsIGxlYWRp bmcgdG8gcm VkdWNlZCBw cm9maXQgbW FyZ2lucyBv biBleGlzdG luZyBwcm9k dWN0cyB0aG F0IGRvIG5v dCBtZWV0IG 5ldyByZWd1 bGF0aW9ucy 48YnI+Q2Fz aCBmbG93IH dvdWxkIGFs c28gc3VmZm VyLiBJZiBk ZW1hbmQgZm 9yIGNvcmUg cHJvZHVjdH MgZGVjbGlu ZXMgc2lnbm lmaWNhbnRs eSBkdWUgdG 8gYSBtYXJr ZXQgc2hpZn QsIHRoZSBj b21wYW55IG 1heSBleHBl cmllbmNlIH JlZHVjZWQg cmV2ZW51ZX MgYW5kLCBj b25zZXF1ZW 50bHksIGxv d2VyIGNhc2 ggZmxvd3Mu IElmIHRoZS Bjb21wYW55 IG5lZWRzIH RvIGludmVz dCBoZWF2aW x5IGluIHJl c2VhcmNoIG FuZCBkZXZl bG9wbWVudC B0byB0cmFu c2l0aW9uIH RvIG5ldyBw cm9kdWN0cy wgdGhpcyBj b3VsZCBmdX J0aGVyIHN0 cmFpbiBjYX NoIGZsb3cu IElmIHRoZS Bjb21wYW55 IGRvZXMgbm 90IHN1Y2Nl c3NmdWxseS BwaXZvdCwg aXQgbWF5IG ZhY2UgaW5j cmVhc2VkIG 9wZXJhdGlv bmFsIGNvc3 RzIGFuZCBv bmdvaW5nIG V4cGVuc2Vz IHJlbGF0ZW QgdG8gbWFp bnRhaW5pbm cgaXRzIGV4 aXN0aW5nIH Byb2R1Y3Qg bGluZXMgd2 hpbGUgdHJ5 aW5nIHRvIG lubm92YXRl Ljxicj5UaG UgYmFsYW5j ZSBzaGVldC Bjb3VsZCBy ZWZsZWN0IG luY3JlYXNl ZCBsaWFiaW xpdGllcyBp ZiB0aGUgY2 9tcGFueSB0 YWtlcyBvbi BkZWJ0IHRv IGZ1bmQgaX RzIHRyYW5z aXRpb24gdG 8gY29tcGx5 IHdpdGggbm V3IHJlZ3Vs YXRpb25zLC B3aGlsZSBw b3NzaWJseS BmYWNpbmcg ZGVjcmVhc2 VkIGFzc2V0 cyBpZiBpbn ZlbnRvcnkg cmVtYWlucy B1bnNvbGQg ZHVlIHRvIG RpbWluaXNo aW5nIGRlbW FuZC4gT3Zl ciB0aW1lLC B0aGlzIGNv dWxkIGxlYW QgdG8gYSBo aWdoZXIgZG VidC10by1l cXVpdHkgcm F0aW8sIGlu ZGljYXRpbm cgaW5jcmVh c2VkIGZpbm FuY2lhbCBy aXNrLiBJZi B0aGUgY29t cGFueSBmYW lscyB0byBh ZGFwdCwgaX RzIG92ZXJh bGwgbWFya2 V0IGNhcGl0 YWxpemF0aW 9uIGFuZCBz aGFyZSBwcm ljZSBjb3Vs ZCBkZWNsaW 5lLCByZWZs ZWN0aW5nIH RoZXNlIHVu ZGVybHlpbm cgZWNvbm9t aWMgY2hhbG xlbmdlcy4g PGJyPkluIH N1bW1hcnks IGlmIE11ZW xsZXIgV2F0 ZXIgUHJvZH VjdHMgZmFj ZXMgYSBzaW duaWZpY2Fu dCByZWd1bG F0b3J5IHBh cmFkaWdtIH NoaWZ0IHRv d2FyZHMgc3 VzdGFpbmFi bGUgd2F0ZX IgbWFuYWdl bWVudCB3aX RoIGRlY2xp bmluZyBkZW 1hbmQgZm9y IHRyYWRpdG lvbmFsIGlu ZnJhc3RydW N0dXJlIHBy b2R1Y3RzLC BpdCBjb3Vs ZCBsZWFkIH RvIHJlZHVj ZWQgbWFyZ2 lucywgY2Fz aCBmbG93IG NoYWxsZW5n ZXMsIGFuZC BhIHN0cmFp bmVkIGJhbG FuY2Ugc2hl ZXQsIHBlcm 1hbmVudGx5 IGFsdGVyaW 5nIGl0cyBl Y29ub21pYy BvdXRsb29r Ljxicj4=

CiAgICAgIC AgICAgIDxk aXYgc3R5bG U9J3dpZHRo OiAxMDAlOy BkaXNwbGF5 OiBmbGV4Oy BqdXN0aWZ5 LWNvbnRlbn Q6IGNlbnRl cjsnPgogIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nCiAgIC AgICAgICAg ICAgICAgIC AgZGlzcGxh eTogZmxleD sKICAgICAg ICAgICAgIC AgICAgICBh bGlnbi1pdG VtczogY2Vu dGVyOwogIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICNm MGY0Zjg7Ci AgICAgICAg ICAgICAgIC AgICAgYm9y ZGVyOiAxcH ggc29saWQg I2QxZTNmMD sKICAgICAg ICAgICAgIC AgICAgICBi b3JkZXItcm FkaXVzOiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH g7CiAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luOi AyMHB4IDA7 CiAgICAgIC AgICAgICAg ICAgICAgZm 9udC1mYW1p bHk6ICJTZW dvZSBVSSIs IFJvYm90by wgc2Fucy1z ZXJpZjsKIC AgICAgICAg ICAgICAgIC AgICBib3gt c2hhZG93Oi AwIDJweCA2 cHggcmdiYS gwLCAwLCAw LCAwLjA1KT sKICAgICAg ICAgICAgIC AgICAgICBt YXgtd2lkdG g6IDkwMHB4 OwogICAgIC AgICAgICAg ICAgICAgIH dpZHRoOiAx MDAlOyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxp bWcgc3JjPS Jhc3NldHMv bG9nb3MvWW luZXRzV3Fr OTdoNndmcW VUUHMud2Vi cCIgYWx0PS JNdWVsbGVy IFdhdGVyIF Byb2R1Y3Rz IiB0aXRsZT 0iTXVlbGxl ciBXYXRlci BQcm9kdWN0 cyIgIGNsYX NzPSJpbWct Zmx1aWQiIG hlaWdodD01 MCB3aWR0aD 01MCBsb2Fk aW5nPSdsYX p5JyBzdHls ZT0nYm9yZG VyLXJhZGl1 czogNnB4Oy c+CgogICAg ICAgICAgIC AgICAgICAg IDxkaXYgc3 R5bGU9J2Zs ZXg6IDE7IH RleHQtYWxp Z246IGNlbn RlcjsgbWFy Z2luLWxlZn Q6IDVweDsn PgogICAgIC AgICAgICAg ICAgICAgIC AgICA8cCBz dHlsZT0nZm 9udC1zaXpl OiAyNnB4Oy Bjb2xvcjog IzMzMzsgbW FyZ2luLWJv dHRvbTogMT VweDsnPgog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAg8J+T iCBXYW50IH RvIHJlYWQg bW9yZSBhYm 91dCBNdWVs bGVyIFdhdG VyIFByb2R1 Y3RzPwogIC AgICAgICAg ICAgICAgIC AgICAgICA8 L3A+CgogIC AgICAgICAg ICAgICAgIC AgICAgICA8 YSBocmVmPS dpbmRleC5w aHA/cGFnZT 1zaWdudXAn IHN0eWxlPS cKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG JhY2tncm91 bmQtY29sb3 I6ICMwMDdC RkY7CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBjb2xvcj ogI2ZmZjsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIHBh ZGRpbmc6ID EwcHggMjBw eDsKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGJvcmRlci 1yYWRpdXM6 IDVweDsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIHRleH QtZGVjb3Jh dGlvbjogbm 9uZTsKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGZvbnQt d2VpZ2h0Oi Bib2xkOwog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgbWFy Z2luLXJpZ2 h0OiAxMHB4 OwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg dHJhbnNpdG lvbjogYmFj a2dyb3VuZC 1jb2xvciAw LjNzIGVhc2 U7JwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Agb25tb3Vz ZW92ZXI9J3 RoaXMuc3R5 bGUuYmFja2 dyb3VuZENv bG9yPSIjMD A1NmIzIicK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIG9u bW91c2VvdX Q9J3RoaXMu c3R5bGUuYm Fja2dyb3Vu ZENvbG9yPS IjMDA3QkZG Iic+CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBTaWduIH VwIGZvciBm cmVlCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDwv YT4KCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDxz cGFuIHN0eW xlPSdtYXJn aW46IDAgOH B4OyBjb2xv cjogIzU1NT snPm9yPC9z cGFuPgoKIC AgICAgICAg ICAgICAgIC AgICAgICAg PGEgaHJlZj 0naW5kZXgu cGhwP3BhZ2 U9bG9naW4n IHN0eWxlPS cKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG NvbG9yOiAj MDA3QkZGOw ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgdG V4dC1kZWNv cmF0aW9uOi B1bmRlcmxp bmU7CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBmb250LX dlaWdodDog NTAwOyc+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBsb2 cgaW4KICAg ICAgICAgIC AgICAgICAg ICAgICAgPC 9hPgoKCiAg ICAgICAgIC AgICAgICAg ICAgICAgID xwIHN0eWxl PSdtYXJnaW 4tdG9wOiAx NXB4OyBmb2 50LXNpemU6 IDEzcHg7IG ZvbnQtd2Vp Z2h0OiBib2 xkOyBjb2xv cjogI2QzMm YyZjsnPgog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAg8J+T miBZb3VyIG ZyZWUgY29w eSBvZiA8aT 4iVGhlIENo ZWNrbGlzdC BWYWx1ZSBJ bnZlc3Rvci DigJQgQSBT bWFydGVyIF dheSB0byBQ aWNrIFN0b2 NrcyI8L2k+ IGlzIHdhaX RpbmcKICAg ICAgICAgIC AgICAgICAg ICAgICAgPC 9wPgoKICAg ICAgICAgIC AgICAgICAg ICAgICAgPC EtLQogICAg ICAgICAgIC AgICAgICAg ICAgICA8ZG l2IHN0eWxl PSdtYXJnaW 4tdG9wOiAx MnB4OyBmb2 50LXNpemU6 IDEzcHg7IG NvbG9yOiAj NDQ0Oyc+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBTaW duIHVwIG5v dyBhbmQgZ2 V0IG91ciBm cmVlIGVCb2 9rIAogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgPGI+VGhl IENoZWNrbG lzdCBWYWx1 ZSBJbnZlc3 RvciDigJQg QSBTbWFydG VyIFdheSB0 byBQaWNrIF N0b2Nrczwv Yj4KICAgIC AgICAgICAg ICAgICAgIC AgICAgPC9k aXY+CiAgIC AgICAgICAg ICAgICAgIC AgICAgIC0t PgogICAgIC AgICAgICAg ICAgICAgIC AgICA8IS0t CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDxkaXYg c3R5bGU9J2 1hcmdpbi10 b3A6IDE2cH g7IGZvbnQt c2l6ZTogMT RweDsgY29s b3I6ICM0ND Q7IGZvbnQt ZmFtaWx5Oi AtYXBwbGUt c3lzdGVtLC BCbGlua01h Y1N5c3RlbU ZvbnQsIFNl Z29lIFVJLC BSb2JvdG8s IEhlbHZldG ljYSBOZXVl LCBzYW5zLX NlcmlmOyBs aW5lLWhlaW dodDogMS42 Oyc+CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBIYXZlIH lvdSBoZWFy ZCBhYm91dC BvdXIgc2hv cnQgPHN0cm 9uZyBzdHls ZT0nZm9udC 13ZWlnaHQ6 IDYwMDsnPk RhaWx5IFZp ZGVvIE5ld3 NsZXR0ZXI8 L3N0cm9uZz 4/CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC A8YSBocmVm PSdodHRwcz ovL3d3dy5p bnNpZ2h0Zn VsdmFsdWUu Y29tL25ld3 NsZXR0ZXIu cGhwJyB0YX JnZXQ9J19i bGFuaycgc3 R5bGU9J2Nv bG9yOiAjMD A3QkZGOyB0 ZXh0LWRlY2 9yYXRpb246 IG5vbmU7IG ZvbnQtd2Vp Z2h0OiA1MD A7IG1hcmdp bi1sZWZ0Oi A2cHg7Jz4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBGaW5kIG 91dCBtb3Jl CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICA8 L2E+CiAgIC AgICAgICAg ICAgICAgIC AgICAgIDwv ZGl2PgogIC AgICAgICAg ICAgICAgIC AgICAgICAt LT4KICAgIC AgICAgICAg ICAgICAgIC A8L2Rpdj4K ICAgICAgIC AgICAgICAg IDwvZGl2Pg ogICAgICAg ICAgICA8L2 Rpdj4KICAg ICAgICAgIC AgCiAgICAg ICAgCiAgIC AgICAgPHNw YW4gY2xhc3 M9J2JsdXJy ZWQtdGV4dC c+CiAgICAg ICAgICAgIE 1TNGdUWFZs YkcgeGxjaU JYWVhSbCBj aUJRY205a2 RXIE4wY3lC cGN5QmggSU hCMVlteHBZ MiB4NUxYUn lZV1JsIFpD QmpiMjF3WV cgNTVJSFJv WVhRZyBkMk Z6SUdWemRH IEZpYkdsem FHVmsgSUds dUlFRjBiRy BGdWRHRXNJ RWRsIGIzSm 5hV0VnYVcg NGdNVGcxTn k0OCBZbkkr TWk0Z1NYIF FnZDJGeklH OXkgYVdkcG JtRnNiSCBr Z1ptOTFibV JsIFpDQmhj eUIwYUcgVW dUWFZsYkd4 bCBjaUJEYn k0Z2RHIDhn YldGdWRXWm ggWTNSMWNt VWdZbiBKaG MzTWdabWww IGRHbHVaM0 1nWm0gOXlJ SFJvWlNCdy BiSFZ0WW1s dVp5IEJwYm 1SMWMzUnkg ZVM0OFluSS tNeSA0Z1NX NGdkR2hsIE lHMXBaQzB5 TUggUm9JR0 5sYm5SMSBj bmtzSUhSb1 pTIEJqYjIx d1lXNTUgSU dWNGNHRnVa RyBWa0lHbD BjeUJ3IGNt OWtkV04wSU cgeHBibVVn ZEc4ZyBhVz VqYkhWa1pT IEIyWVd4Ml pYTXMgSUdo NVpISmhibi BSekxDQmhi bVFnIGIzUm 9aWElnZDIg RjBaWElnWk dseiBkSEpw WW5WMGFXID l1SUhCeWIy UjEgWTNSek xqeGljaiA0 MExpQk5kV1 ZzIGJHVnlJ RU52TGkgQn RaWEpuWldR ZyBkMmwwYU NCaGJtIDkw YUdWeUlIQn MgZFcxaWFX NW5JRyBGdV pDQjFkR2xz IGFYUjVJR0 52YlggQmhi bmtzSUVobC Bibko1SUZC eVlYIFIwSU VOdmJYQmgg Ym5rc0lHbH VJRCBFNU5q SWdkRzhnIF ptOXliU0JO ZFcgVnNiR1 Z5SUVOdiBM anhpY2o0MU xpIEJKYmlB eU1EQTIgTE NCTmRXVnNi RyBWeUlFTn ZMaUJ6IFpY QmhjbUYwWl cgUWdabkp2 YlNCTiBkV1 ZzYkdWeUlG IGRoZEdWeU lGQnkgYjJS MVkzUnpJRy BGdVpDQmla V05oIGJXVW dZVzRnYVcg NWtaWEJsYm 1SbCBiblFn WTI5dGNHIE Z1ZVM0OFlu SSsgTmk0Z1 RYVmxiRyB4 bGNpQlhZWF JsIGNpQlFj bTlrZFcgTj BjeUJwY3lC dSBiM2NnWV NCc1pXIEZr YVc1bklHMW ggYm5WbVlX TjBkWCBKbG NpQmhibVFn IGJXRnlhMl YwWlggSWdi MllnYVc1bS BjbUZ6ZEhK MVkzIFIxY2 1VZ1lXNWsg SUdac2IzY2 dZMiA5dWRI SnZiQ0J3IG NtOWtkV04w Y3kgQm1iM0 lnZFhObCBJ R2x1SUhkaG RHIFZ5SUdS cGMzUnkgYV dKMWRHbHZi aSBCdVpYUj NiM0pyIGN5 QmhibVFnZD IgRjBaWEln ZEhKbCBZWF J0Wlc1MElH IFpoWTJsc2 FYUnAgWlhN dVBHSnlQai BjdUlGUm9a U0JqIGIyMX dZVzU1NG8g Q1pjeUJ3Y2 05ayBkV04w Y3lCaGNtIF VnZFhObFpD QnAgYmlCaE lIZHBaRyBV Z2NtRnVaMl VnIGIyWWdZ WEJ3YkcgbG pZWFJwYjI1 eiBMQ0JwYm 1Oc2RXIFJw Ym1jZ2NtVn ogYVdSbGJu UnBZVyB3Z1 lXNWtJR052 IGJXMWxjbU 5wWVcgd2dj R3gxYldKcC BibWNzSUda cGNtIFVnY0 hKdmRHVmog ZEdsdmJpd2 dZVyBkeWFX TjFiSFIxIG NtVXNJR0Z1 WkMgQnRkVz VwWTJsdyBZ V3dnZDJGMF pYIElnYzNs emRHVnQgY3 k0OFluSStP QyA0Z1RYVm xiR3hsIGNp QlhZWFJsY2 kgQlFjbTlr ZFdOMCBjeU JvWVhNZ2JX IEZ1ZFdaaF kzUjEgY21s dVp5Qm1ZVy BOcGJHbDBh V1Z6IElHbH VJSFJvWlMg QlZibWwwWl dRZyBVM1Jo ZEdWekxDIE JEWVc1aFpH RXMgSUdGdV pDQkRhRyBs dVlTd2dZVz VrIElHUnBj M1J5YVcgSj FkR2x2YmlC dSBaWFIzYj NKcmN5IEJw YmlCdmRtVn kgSURZd0lH TnZkVyA1MG NtbGxjeTQ4 IFluSStPUz RnVkcgaGxJ R052YlhCaC Bibm5pZ0ps eklHIEp5WV c1a2N5QnAg Ym1Oc2RXUm xJRSAxMVpX eHNaWElzIE lFMTFaV3hz WlggSWdVM2 x6ZEdWdCBj eXdnUldOb2 IyIHh2WjJs amN5d2cgVU hKaGRIUXNJ RSBwdmJtVn pMQ0JoIGJt UWdWUzVUTG kgQlFhWEJs TGp4aSBjaj R4TUM0Z1RY IFZsYkd4bG NpQlggWVhS bGNpQlFjbS A5a2RXTjBj eUJwIGN5Qm piMjF0YVgg UjBaV1FnZE c4ZyBjM1Z6 ZEdGcGJtIE ZpYVd4cGRI a2cgWVc1a0 lHaGhjeSBC cGJYQnNaVz FsIGJuUmxa Q0JsYm4gWn BjbTl1YldW dSBkR0ZzYk hrdFpuIEpw Wlc1a2JIa2 cgY0hKaFkz UnBZMiBWek lHbHVJR2ww IGN5QnZjR1 Z5WVggUnBi MjV6TENCei BkV05vSUdG eklIIEpsWk hWamFXNW4g SUdWdGFYTn phVyA5dWN5 QmhibVFnIG QyRjBaWEln ZFggTmhaMl V1UEdKeSBQ akV4TGlCSm JpIEF5TURF NUxDQk4gZF dWc2JHVnlJ RiBkaGRHVn lJRkJ5IGIy UjFZM1J6SU ggZGhjeUJ5 WldOdiBaMj VwZW1Wa0lH IEZ6SUc5dV pTQnYgWmlC MGFHVWdWMi A5eWJHVGln Smx6IElFMX ZjM1FnUlgg Um9hV05oYk NCRCBiMjF3 WVc1cFpYIE 1nWW5rZ2RH aGwgSUVWMG FHbHpjRyBo bGNtVWdTVz V6IGRHbDBk WFJsSUcgWn ZjaUIwYUdV ZyBibWx1ZE dnZ1kyIDl1 YzJWamRYUn AgZG1VZ2VX VmhjaSA0OF luSStNVEl1 IElGUm9aU0 JqYjIgMXdZ VzU1SUdGcy BjMjhnY0dG eWRHIDVsY2 5NZ2QybDAg YUNCMllYSn BiMyBWeklH OXlaMkZ1IG FYcGhkR2x2 Ym4gTWdZVz VrSUhWdSBh WFpsY25OcG RHIGxsY3lC MGJ5QnogZF hCd2IzSjBJ SCBkaGRHVn lJSEpsIGMy OTFjbU5sSU cgMWhibUZu WlcxbCBibl FnWVc1a0lI IEpsYzJWaG NtTm8gSUc5 dUlIZGhkRy BWeUlHbHVa bkpoIGMzUn lkV04wZFgg SmxManhpY2 o0eCBNeTRn VFhWbGJHIH hsY2lCWFlY UmwgY2lCUW NtOWtkVyBO MGN5Qm9ZWE 1nIGIzWmxj aUEwTEQgVX dNQ0JsYlhC cyBiM2xsWl hNZ1lXIDVr SUhKbGNHOX kgZEdWa0lH RnVibiBWaG JDQnlaWFps IGJuVmxjeU J2WmkgQWtN UzQ1SUdKcC BiR3hwYjI0 Z2FXIDRnWm 1selkyRnMg SUhsbFlYSW dNaiBBeU1D NDhZbkkrIE 1UUXVJRWx1 SUcgRmtaR2 wwYVc5dSBJ SFJ2SUdsMG N5IEJ0WVds dUlHWnYgWT NWeklHOXVJ SCBkaGRHVn lJR2x1IFpu SmhjM1J5ZF cgTjBkWEps SUhCeSBiMl IxWTNSekxD IEJOZFdWc2 JHVnkgSUZk aGRHVnlJRi BCeWIyUjFZ M1J6IElHRn NjMjhnYjIg Wm1aWEp6SU dsdSBaSFZ6 ZEhKcFlXIH dnZG1Gc2Rt VnogSUdGdV pDQndiMiB4 NWJXVnlJR0 52IGJtTnla WFJsSUggTj BjblZqZEhW eSBaWE1nWm 05eUlIIFJv WlNCbGJtVn kgWjNrZ1lX NWtJSCBSbG JHVmpiMjF0 IGRXNXBZMk YwYVcgOXVj eUJwYm1SMS BjM1J5YVdW ekxqIHhpY2 o0eE5TNGcg VkdobElHTn ZiWCBCaGJu a2dhR0Z6IE lHRWdiRzl1 WnkgQm9hWE 4wYjNKNSBJ RzltSUdsdW JtIDkyWVhS cGIyNHMgSU dodmJHUnBi bSBjZ2IzWm xjaUEyIE5U QWdjR0YwWl cgNTBjeUJo Ym1RZyBZMj l1YzJsemRH IFZ1ZEd4NU lHbHUgZEhK dlpIVmphVy A1bklHNWxk eUJ3IGNtOW tkV04wY3kg QmhibVFnZE dWaiBhRzV2 Ykc5bmVTIE IwYnlCcGJY QnkgYjNabE lIZGhkRyBW eUlHbHVabk poIGMzUnlk V04wZFggSm xJR1ZtWm1s aiBhV1Z1WT NrZ1lXIDVr SUhOMWMzUm ggYVc1aFlt bHNhWCBSNU xnPT0KICAg ICAgICA8L3 NwYW4+CiAg ICAgICAgCi AgICAgICAg