Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar. To request full and unrestricted access to Lucror’s research and analytics platform, please visit
KEY HIGHLIGHTS Economics Economic Activity 2M24 data a mixed bag; property FAI remains a drag. Results China Resources Beer (291 HK/BUY/HK$37.95/Target: HK$65.50) 2023: Results in line; ambitious premiumisation targets. Kingboard Laminates (1888 HK/HOLD/HK$6.21/Target: HK$6.10) 2023: Earnings slightly above profit warning; stimulus may give upside to 2024. Xtep (1368 HK/BUY/HK$4.54/Target: HK$7.00) 2023: Results miss; conservative outlook for 2024. TRADERS’ CORNER Alibaba Health Information...
Moody's Ratings ("Moody's") has affirmed BRF S.A. (BRF)'s Ba3 corporate family rating (CFR) and the Ba3 ratings on its senior unsecured notes. The outlook changed to positive from stable. RATINGS RATIONALE The change in outlook to positive from stable reflects the improvement in credit metrics obser...
Moody's Ratings ("Moody's") affirmed Marfrig Global Foods S.A.'s ("Marfrig") Ba2 corporate family rating (CFR) and changed the outlook to stable from negative. RATINGS RATIONALE The change in outlook to stable indicates that Moody's does not expect to see further deterioration in Marfrig's credit m...
Brookfield Corporation Completes Annual Filings BROOKFIELD, NEWS, March 18, 2024 (GLOBE NEWSWIRE) -- Brookfield Corporation (“Brookfield”) (NYSE: BN, TSX: BN) today announced that it has filed its 2023 annual materials on Form 40-F, including its audited financial statements and management’s discussion and analysis for the year ended December 31, 2023, with the SEC on EDGAR as well as with the Canadian securities authorities on SEDAR. These documents are also available at and a hardcopy will be provided to shareholders free of charge upon request. About Brookfield Corporation Brookfiel...
GOTO disclosed that there could be a goodwill impairment charge in 4Q23. We view that if the entire balance of Rp76.6t is charged off, it will clear the negative surprise in 2024. GOTO will record a positive adjusted EBITDA in 4Q23 with the on-demand service segment continuously being EBITDA positive. Future upside will come from selling financial service and providing loans to TikTok customers. With the large impairment surprise behind us, we upgrade GOTO to HOLD with a target price of Rp73.
Moody's Ratings ("Moody's") has downgraded Bryant University's (RI) issuer and outstanding debt ratings to A3 from A2 and assigned an A3 rating to the planned $132.7 million, Higher Education Facility Revenue Bonds, Bryant University Issue, Series 2024 issued by the Rhode Island Health and Education...
Moody's Ratings (Moody's) has withdrawn the A3/Prime-2 long-term and short-term issuer ratings of Citigroup Pty Limited. The outlook prior to the withdrawal was stable. IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. SUCH USE WOULD BE RECKLESS AND I...
HOUSTON--(BUSINESS WIRE)-- JX Nippon Oil & Gas Exploration Corporation (“JX”; President & CEO: Toshiya Nakahara) and Chevron New Energies (“Chevron”), a division of Chevron U.S.A. Inc., have signed a Memorandum Of Understanding (“MOU”) that provides a framework to evaluate the export of Carbon Dioxide (CO₂) from Japan to Carbon Capture and Storage (CCS) projects located in Australia and other countries in the Asia Pacific region. This press release features multimedia. View the full release here: Pictured left to right, Jeff Gustavson, President, Chevron New Energies; Chris Powers, Vice Presi...
Moody's Ratings ("Moody's") has revised its outlook to positive from stable for Piedmont Community Charter School (PCCS), NC's revenue bonds. The Baa3 bond rating has been affirmed. For fiscal 2023 (June 30 year-end), the school has about $27.5 million in total outstanding debt. The positive revis...
JOYY Reports Fourth Quarter and Full Year 2023 Unaudited Financial Results SINGAPORE, March 19, 2024 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: YY) (“JOYY” or the “Company”), a global technology company, today announced its unaudited financial results for the fourth quarter and full year of 2023. Fourth Quarter 2023 Financial Highlights1 Net revenues were US$569.8 million, compared to US$604.9 million in the corresponding period of 2022.Net income attributable to controlling interest of JOYY2 was US$45.8 million, compared to net loss of US$377.5 million in the corresponding period of 20...
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