Report
Anne-Barbara Nicco

Isabel Marant : Under a lucky star

The IM Group (Isabel Marant) 2025 paper is one of the single-B bonds that have best weathered the market downturn this year, with a spread tightening of 45bp against a 200bp widening for the JPM 'B' index. With a not too remote maturity date in 2025 and topflight earnings releases which saw the (unadjusted) net leverage ratio drop to 1.8x at end-September 2022 (vs. 3x at issuance and 4.8x at end-2020), it clearly had the necessary strengths to outperform the market. - This is stil...
Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Anne-Barbara Nicco

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