In today's Morning Views publication we comment on developments of the following high yield issuers: Ardagh, Teva, TeamSystem, Digi Communications, Selecta, Rexel, Gestamp, Forvia (formerly Faurecia), Nexans, International Personal Finance, Ineos, AMS Osram, OPmobility, Intrum
The Europe HY Trade Book for May 2025 includes current trade recommendations drawn from our European HY coverage universe, along with relative-value scatter plots and tables by industry. We also discuss the US tariff situation and key related impacts.
In today's Morning Views publication we comment on developments of the following high yield issuers: TK Elevator, Verisure, Arxada, Modulaire, Omnia Technologies, Eircom, Iliad, Travelodge, Advanz Pharma, Trivium, Cheplapharm, Teva, Biofarma, Biogroup, AMS Osram, Ardagh, ASK Chemicals, Rino Mastrotto, Scan Global Logistics, Sasol
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 today's Morning Views publication we comment on developments of the following high yield issuers: CeramTec, Engineering Group, Infopro Digital, Ardagh Metal Beverage Packaging, Ardagh, Softbank Group, Vedanta Resources, Ineos, Profine, Lottomatica (formerly Gamenet), CEMEX, OPmobility (formerly Plastic Omnium)
In today's Morning Views publication we comment on developments of the following high yield issuers: Novafives, PPF Telecom, Kantar, CBR Fashion, Playtech, Klockner Pentaplast, CABB, TUI, Lottomatica (formerly Gamenet), Asmodee, Telecom Italia, International Personal Finance, Ardagh, Allwyn (formerly Sazka)
Ardagh Group has reported mixed results, with the strong Q4/24 numbers slightly overshadowed by soft full-year performance. This was largely due to weakness in the Glass substrate, which offset growth in Metals. Operational liquidity seems reasonable. However, given the significant maturity wall in 2026 and substantial debt load, a debt restructuring appears to be inevitable in order for the company to optimise its capital structure.
In today's Morning Views publication we comment on developments of the following high yield issuers: Aston Martin, Voyage Care, International Personal Finance, Altice France (SFR), Telecom Italia, Digi Communications, Sunrise, Techem, Sappi, David Lloyd Leisure, TAP, Nexi, Ardagh, Encore Capital (formerly Cabot), Victoria
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