Credit Morning 12/16/2025

Kering announces a JV agreement with Ardian regarding the property located in New York City|

Morning Crédit 16/12/2025

Kering annonce un accord de JV avec Ardian sur l’immeuble de New York|

Credit Morning 12/12/2025

Eutelsat completes its rights issue of € 670m|Proposals for simplifying banking regulations by the ECB|BPCE and Generali abandon their asset management joint venture project|

Morning Crédit 12/12/2025

Eutelsat finalise son augmentation de capital avec DPS de 670 m EUR|Propositions de simplification de la réglementation bancaire par la BCE|BPCE et Generali abandonnent leur projet de coentreprise en gestion d’actifs|

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Omnia Technologies, Allwyn (formerly Sazka), Ontex, Sappi, Voyage Care, Cheplapharm, Ineos, Ineos Quattro, Telecom Italia

Credit Morning 12/11/2025

IGH & IQ: Ratings downgraded by Moody’s with outlook still Negative|Ontex revises FY 25 outlook downward and names new CEO|

Morning Crédit 11/12/2025

IGH & IQ: Ratings downgraded by Moody’s with outlook still Negative|Ontex revises FY 25 outlook downward and names new CEO|

Credit Morning 12/10/2025

Nexans reassures investors over the GSI project amid freeze rumors|Casino redeems € 30m on Quatrim bond|Asmodee has successfully priced its new senior secured notes|Ageas issues a 5.875% RT1 PNC34 to strengthen its solvency following the 2025 transactions|

Morning Crédit 10/12/2025

Nexans reassures investors over the GSI project amid freeze rumors|Casino rembourse 30 m EUR sur l’obligation Quatrim|Asmodee a placé avec succès son nouvel emprunt obligataire|Ageas émet un RT1 PNC34 à 5.875%, pour renforcer sa solvabilité après les opérations 2025|

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 10/12/2025

Air France-KLM : CMA clarifie sa position. Neutre réitéré dans l’atten...

Air France-KLM : CMA clarifies its position - Neutral rating reiterate...

Credit Morning 12/09/2025

Asmodee is preparing new bond issue|Polynt: Black Diamond came back for what it was looking for in the first place|CMA CGM is launching the placement of an Air France-KLM exchangeable bond|

Morning Crédit 09/12/2025

Asmodee prépare une nouvelle émission obligataire|Polynt: Black Diamond came back for what it was looking for in the first place|CMA CGM lance le placement d’une obligation échangeable en actions Air France-KLM|

Benelux Morning Notes

Ageas: CEO interview in local press. Ageas at ING conference in New York. ASR: Solvency gets +10 to +12% uplift, as expected but brings ASR to above 210% Sol 2 ratio. OCI: Exchange terms set for OCI/Orascom merger. Events Calendar

Deutsche Lufthansa Aktiengesellschaft - September 2025 (LTM): Peer Sna...

Compares key performance metrics against industry peers.

Credit Morning 12/08/2025

Worldline plans to sell PaymentIQ for € 160m|BNP sells 25% stake in AG Insurance to Ageas; Cardif builds up stake in Ageas to 22.5%|

Morning Crédit 08/12/2025

Worldline compte céder la plateforme PaymentIQ pour 160 m EUR|BNP cède à Ageas sa participation de 25% dans AG ; Cardif se renforce au capital d’Ageas à 22.5%.|

Benelux Morning Notes

Ageas: Finally, 100% owner of Belgium business. CTP: Official launch in Italy and expansion in CTPark Warsaw South. Euronext: November delivers positive cash equity and bond trading volume growth. IBA: IBA to install one P1 system at YAS Healthcare in Dubai

Vodacom (Buy, TP: ZAR200, +49%) Feedback from call with CEO

We hosted a virtual call with Vodacom CEO, Shameel Joosub, and Head of IR, JP Davids on Monday last week. In tone and content, the call was positive in our view, and we found the discussion on price floors very encouraging. Thoughts and feedback below. Thoughts and feedback below.