In today's Morning Views publication we comment on developments of the following high yield issuers: CeramTec, evoke, SPIE, Fedrigoni, Odido, Profine, Infopro Digital, Banijay, Neopharmed, Vedanta Resources, Nemak, CMA CGM, Ineos, Ineos Quattro, Flos B&B Italia (formerly International Design Group)
In today's Morning Views publication we comment on developments of the following high yield issuers: Ahlstrom, Huhtamaki, Azelis, MasOrange, Nokia, NewDay, Nemak, Lottomatica (formerly Gamenet), Ineos Quattro, Kem One, Casino Guichard-Perrachon, CEMEX, Versuni (formerly Philips Domestic Appliances), Ardagh Metal Beverage Packaging, Axactor, Ardagh, Oriflame, Cerba, Polynt
In the latest edition of our LatAm Trade Book, we review most of our current trade recommendations. We also discuss key metrics of the issuers and how the bonds fare relative to peers. Please reach out to our analysts to discuss any of these ideas, or other trade recommendations from our LatAm coverage.
Nemak again delivered resilient results in Q4/24, with the company managing to grow EBITDA (+21% y-o-y) despite the lower volumes (-7%). We note that these trends continued throughout the year. Nemak's performance was mainly supported by positive developments in North America, while performance was weak in Europe. The company missed its guidance marginally, but Q4 FCF was solid at USD 155 mn, largely driven by a seasonal working-capital inflow. Cash-flow generation and EBITDA growth led to a si...
In today's Morning Views publication we comment on developments of the following high yield issuers: TK Elevator, TGS ASA, CABB, Odigeo, Constellium, Asmodee, Sasol, Borr Drilling, Nemak, Victoria, OPmobility (formerly Plastic Omnium), Ithaca Energy, Cirsa, Azelis
In this publication, we review the past year and discuss our outlook for the next 12 months. We begin our discussion with the macro factors at play, including GDP forecasts, the geopolitical landscape and our expectations for cost inflation. We also trace the development of primary markets in the European HY space, and give our view on defaults in general as well as for our coverage universe. We then discuss sector trends and expectations, along with earnings development for companies under our ...
In today's Morning Views publication we comment on developments of the following high yield issuers: Pampa Energia, Brava Energia, Ecopetrol, Energuate, Auna, Gerdau, Vale, Camposol, YPF, Arcos Dorados, Embraer, LATAM Airlines, Nexa, Azul, CSN, Buenaventura, Suzano, Total Play, Nemak, Hidrovias, Eletrobras
NEMAK (MX), a company active in the Auto Parts industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date March 29, 2022, the closing price was MXN 5.36 and its potential was estimated ...
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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