Credit markets are accurately stating IAA's credit risk with a YTW of 5.852%, relative to an Intrinsic YTW of 5.852% and an Intrinsic CDS of 291bps. Meanwhile, Moody's is overstating the firm's fundamental credit risk, with its speculative Ba3 credit rating four notches lower than Valens' IG4 (Baa2) credit rating. Incentives Dictate Behavior™ analysis highlights mixed signals for creditors. Specifically, IAA's compensation metrics will likely drive management to focus on all three value drivers...
The independent financial analyst theScreener just changed two ratings for the qualification of IAA (US), active in the Auto Parts industry. Its market behaviour has improved and can now be considered as moderately risky; its fundamental valuation receives an improved star rating and now shows 2 out of 4 stars. theScreener considers that these elements slightly improve the general evaluation, which passes therefore to Neutral. As of the analysis date March 18, 2022, the closing price was USD 40....
Credit markets are slightly overstating IAA's credit risk with a YTW of 3.861%, relative to an Intrinsic YTW of 3.201% and an Intrinsic CDS of 163bps. Meanwhile, Moody's is overstating the firm's fundamental credit risk, with its speculative Ba3 credit rating four notches lower than Valens' IG4 (Baa2) credit rating. Incentives Dictate Behavior™ analysis highlights mostly positive signals for creditors. Specifically, IAA's compensation metrics will likely drive management to focus on all three v...
Credit markets are overstating IAA's credit risk with a YTW of 3.851%, relative to an Intrinsic YTW of 2.641% and an Intrinsic CDS of 156bps. Meanwhile, Moody's is overstating the firm's fundamental credit risk, with its speculative Ba3 credit rating four notches lower than Valens' IG4 (Baa2) credit rating. Incentives Dictate Behavior™ analysis highlights mostly positive signals for creditors. Specifically, IAA's compensation metrics will likely drive management to focus on all three value driv...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
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