Report
Maxime Kogge

Orpea : Vers une amélioration des ratios de crédit ?

L’émission obligataire inaugurale d’Orpea affiche un parcours satisfaisant dans un contexte chahuté. Emise à 99.238% le 5 mars 2018, elle est montée à 102.38% à la fin août avant de refluer vers son niveau initial. Elle cote actuellement 99.25% (mid-price) mais son rendement depuis mars reste nettement positif grâce au coupon de 2.625%. - La surperformance par rapport aux obligations de catégorie ‘BB’ traduit à nos yeux : 1/ des résultats de qualité marqués par une croissance forte...
Underlying
Orpea SA

ORPEA is a dependency, physical and psychiatric care group based in France. Co. operates long-term and short-term care facilities, including medical care facilities, medical and social care facilities and residential facilities for the elderly. Co. provides short, medium and long-term global physical and mental dependency care. Co. also operates residential facilities for disabled people of any age, hotels, and hotel-related, as well as leisure accommodation facilities. Co. operates in France and abroad (Belgium, Italy, Spain and Switzerland) in three business segments: Long-term care facilities (nursing homes); Post-acute and Rehabilitation care facilities; and Psychiatric care facilities.

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
Maxime Kogge

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