CreditSights @creditsights
Official CreditSights® Twitter account. Follow us for credit news and views. Retweets are not endorsements. creditsights.com Joined January 2012-
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Heimstaden Bostad's first-quarter 2024 results aligned with our expectations, offering reassurance that the credit situation had not deteriorated further. However, the outlook at the holding company, Heimstaden AB, is less optimistic. Read full report here:hubs.li/Q02v7l1j0
We compare how the equity and credit markets view major European banks, highlighting discrepancies with specific reference to SocGen, Barclays, Intesa, and Bank of Ireland. Access the full report here: hubs.li/Q02v0fb60
European lenders are adopting US defense tactics against priming transactions. The recent co-operation agreement on Altice France signals a strategic shift to protect their interests. Dive into the full report for more insights: hubs.li/Q02tXBB-0
Restructuring feels close, but for now, equity remains in control. Meanwhile, Oriflame is fighting to redefine its business as mass market social media plays havoc with its top line. Is there a credible refinancing case? Read our full analysis here: hubs.li/Q02tXkPz0
Ahead of the March-24 quarter-end reporting season, we review the APAC banking sectors we cover and refresh our key recommendations for senior, Tier 2, and AT1 securities. Don't miss out on this comprehensive analysis: hubs.li/Q02tLmH-0
We take a closer look at the relative value proposition of HY bonds versus broadly syndicated loans, examining recent and historic performance and the implications for future return prospects. Don't miss out on this comprehensive analysis: hubz.li/Q02t8Gzf0
We look at the implications for UBS from the Federal Council's review of the 'too big to fail' regime in Switzerland and lessons from the collapse of Credit Suisse. Read our full analysis here: hubs.li/Q02t7Qhk0
In this joint report, Covenant Review and CreditSights discuss the structure and elements of the ARGID refinancing transaction and consider the wider implications of the maneuver. Access the full report here: hubs.li/Q02t7sCV0
We have reviewed the details of Aroundtown and Grand City Properties' exchange offers for €2.4 billion in European hybrid securities. Our report comprehensively dissects the implications for stakeholders and the broader market. Access the report here: hubs.li/Q02rDyhw0
Explore our comprehensive report on the capital structures of 51 European banks, encompassing an in-depth review of regulatory mandates, capital ratios, and Additional Tier 1 (AT1) capital trigger points. Read our full analysis here: hubs.li/Q02rtGkF0
As battle lines are drawn across another of European HY’s big cap stacks, we nail down the key credit issues - in text and graphics - to support scenario analysis: hubs.li/Q02qyptN0 For more in-depth insights, join our Intrum webinar tomorrow: hubs.li/Q02qyqx60
Altice is shaking up the high-yield market with a high 6.4x net leverage, using complex tactics that keep observers on edge. SFR's Q4 hints at underlying instability, especially in mobile, as creditors push back for fairer talks. hubs.li/Q02qsTsR0 #Altice #HighYieldMarket
Join us on Tuesday, March 26th, for our Asia Credit Wrap webinar! Hear from analysts Pramod Shenoi, Zerlina Zeng, and Lakshmanan R as they delve into the Asia credit markets. Get a comprehensive update for March. Register here: hubs.li/Q02qnrj_0
Exploring the expansive growth of the U.S. private credit loan market, which hit a staggering $470bn in 2023, a joint report from #CovenantReview and #LevFinInsights examines the potential for a liquid secondary market. Download the full report here: hubs.li/Q02pbb0n0
Heathrow Finance is in the market today with new £350mn 7Y senior secured notes. Read the full report here: hubs.li/Q02p39qQ0
Schaeffler reported slightly underwhelming results for the fourth quarter of 2024, leading to a decline of approximately 4% in their share price on the day of the announcement. We believe that with Schaeffler it is a case of you get what you pay for. hubs.li/Q02nmgLk0
We've initiated coverage on 4 major players in the Asian battery sector: LG Energy Solutions, SK Innovation, LG Chem and CATL. Stay tuned for more updates here: hubs.ly/Q02mqjh-0
We have initiated coverage on two of the UK's leading water and sewerage companies: United Utilities (UU) and Severn Trent (SVT). Get the latest insights on their operations here: hubs.li/Q02mmjVT0
We have initiated coverage of Air France-KLM and have conducted a thorough analysis of the company's credit status, as well as an investigation into the demand trends that are currently shaping the airline industry. Discover more here: hubs.li/Q02mcQhw0
Join us Thursday, February 29th for our Asia Credit Wrap webinar! Hear from analysts Pramod Shenoi, Zerlina Zeng, and Lakshmanan R as they delve into the the Asia credit markets. Register here: hubs.li/Q02lXzGN0 #AsiaCreditWrap
JohannesBorgen @jeuasommenulle
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34 Followers 127 Following CreditSights Senior Insurance Analyst. Focus on debt & policyholder issues. Shoot me a DM to talk shop! (or hockey). If my link is paywalled, just ask for it!Olivia Konotey-Ahulu @OliviaGKA
1K Followers 2K Following Equality reporter @business/@BBGequality I [email protected] I RTs not endorsements, all views my ownStephen Morris @sjhmorris
7K Followers 1K Following @FT San Francisco Bureau Chief. Ex-@Business. RT ≠ endorsement; all views my own. Also #Arsenal 🔴 & 🇬🇬Kudos to Glenn Reynolds (who I knew in DC during the credit rating agency reform battles) and the entire team at @creditsights for joining Fitch. Creditsights & Fitch are both doing cutting edge work in AI and machine learning for credit analysis. Full speed ahead.
Fitch Group, a global leader in financial information services owned by Hearst, today announced it will acquire CreditSights, Inc., a leading provider of independent credit research to the global financial community. ow.ly/Vlah50D8p9l
Our clients put on some of the hottest events. Now live @creditsights Global Sector Outlook Conference...it's lit!🔥Not too late to register: hubs.ly/H0CpdwV0 #KnowMoreRiskBetter #creditresearch #creditmarket
#CreditSights #Covenants: M&A activity is expected to continue in the European #Telco despite Covid-19 pandemic. As such, the nuances of change of control (CoC) language in deal documents are important. Sponsored by @creditsights Find out more ⤵ globalcapital.com/article/b1nzz2…
Well this is gonna bifurcate opinions... New #Lowell #Garfunkel £1.6 ban equiv of SSNs for refi including 11% SNs. Hold tight!!! #highyield #levfin
#pizzaexpress restructuring details finally published this morn -Lockup agreement with 75% of SSNs -£144 mn new money from ad hoc group -SSN holders and new money lenders to own 98% of new shares -CVA -China ops stay with Hony #levfin #distressed #highyield
Highlight: “The next leg of growth for the entire electric adoption is going to come from this semi and cybertruck, for Tesla particularly,” @creditsights Head of U.S. Industrials and Sr. Analyst Autos Hitin Anand says. Full interview:
#Stonegate/Ei Group bridge refi finally coming to market after pvt placement 3 weeks ago. 5 year £950 mn Fix/€300 mn FRN which leaves some room for an upsize by my calcs #highyield #levfin
With Thyssen, AMS and Masmovil all beginning syndication this week, it's worth taking another look at this piece from @tomashirstecon and I from a few weeks ago #highyield #levfin
In May $40 bn of issuance was recorded, making it the busiest month for US HY since 2013. We acknowledge the lack of a near term maturity wall in Euro HY, with only €18.9 bn of Euro HY maturities over the next 12 months. Clients Log in here: bit.ly/2zeEVO7
"Issuers have been more cognisant of the benefits of these loopholes, creating more risk of exploitation," said Charlotta Chung @creditsights. "But that risk is tempered by lender and creditor awareness." Education and engagement are 🔑 (+ maybe eliminating Unrestricted Subs)
J.Crew blockers are back in vogue, this time in the junk #bond market where issuers are increasingly inserting such provisions to prohibit the transfer of assets out of #creditor's reach. Read more: refini.tv/2UDLt01
The 80's called...they want Glenn Reynolds back. War stories & wisdom from someone who has been at the heart of #highyield research & analysis for forty years in our latest podcast. @creditsights bit.ly/3gsAkIO
We may have client bias, but we are really digging Know More. Risk Better, a podcast by @creditsights offering a clear and independent perspective on investing during the pandemic. Listen Here [via @creditsights]: hubs.ly/H0qMRF-0
Interested in how investors find comfort in financing deals in the hospitality sector right now? Listen to the latest podcast from CreditSights. Listen Here [via @creditsights]: hubs.ly/H0q6M2W0
An exciting new product for investment managers and risk officers. With an increased potential for downgrades, it's become more vital to have the best protection over your portfolio. Fallen Angel Score is here to assist. Read Here [via @creditsights]: hubs.ly/H0p9RM60
Residential and Commercial Mortgage Debt as % of GDP - @SoberLook @creditsights
being a credit analyst isn't just a desk job @creditsights
Stone Mountain Capital will attend the European IG & Crossover Conference 2019 in London on the 6th December. creditsights.com/intro/ @stonemountainuk @stonemountainch @stonemountaincp @creditsights
#SINGAPORE: 1️⃣ DAY TO GO! Find out who'll be on the start line with @LinklatersLLP, @creditsights, @MastercardSG & @ippfaeag tomorrow night over on our website ➡️ bit.ly/2kGnuyM #WeRunThisCity
China’s Share of Global Consumption & Production - @SoberLook @creditsights
Hall of fame nonsense Ebitda metric as well: "Adjusted EBITDA contribution for Orders in Production" Can only presume this is Aston's tribute to Adam "community adjusted Ebitda" Neumann.