reports
Téléperformance : Evolution of coverage
Following the departure of one analyst, we terminate the coverage with recommendation of the following issuers: Advanz Pharma, CBR Fashion Group, Ceconomy, Cheplapharm, Eurofins, Grenke, Grünenthal, IHO/Schaeffler, Ontex, Profine, Progroup, Stada, Teleperformance, Wepa and ZF Friedrichshafen. We intend to gradually resume coverage of some of these companies. Previous credit opinions and market recommendations are listed in the table on page 2.
Teleperformance : Evolution of coverage
Following the departure of one analyst, we terminate the coverage with recommendation of the following issuers: Advanz Pharma, CBR Fashion Group, Ceconomy, Cheplapharm, Eurofins, Grenke, Grünenthal, IHO/Schaeffler, Ontex, Profine, Progroup, Stada, Teleperformance, Wepa and ZF Friedrichshafen. We intend to gradually resume coverage of some of these companies. Previous credit opinions and market recommendations are listed in the table on page 2.
Casino Group: Quatrim Redemption
Casino Group: Quatrim Redemption Repayments confirmation to Quatrim secured bondholders Paris, December 30, 2025 Groupe Casino announces that it has repaid on December 29, 2025, €30.0m of the secured debt carried by its subsidiary Quatrim, including €29.2m of principal and €0.8m of accrued interest (including € 0.3m of PIK interests for the period between April 6, 2025 and October 5, 2025 and € 0.5m of accrued interests for the period between October 6, 2025 and December 28, 2025). Following this transaction, the nominal amount of the Quatrim secured bonds is €139,9m and the accrued PIK ...
Groupe Casino : Remboursement Quatrim
Groupe Casino : Remboursement Quatrim Confirmation d’un remboursement des obligations sécurisées Quatrim Paris, le 30 décembre 2025 Le Groupe Casino annonce qu’il a procédé, le 29 décembre 2025, à un remboursement de 30,0 M€ de la dette sécurisée portée par sa filiale Quatrim, dont 29,2 M€ de capital et 0,8 M€ d’intérêts courus portant sur le capital remboursé (y compris 0,3 M€ d’intérêts PIK pour la période comprise entre le 6 avril 2025 et le 5 octobre 2025 et 0,5 M€ d’intérêts courus pour la période entre le 6 octobre 2025 et le 28 décembre 2025). Après l’opération, le montant nominal...
Atos SE: 1 director
A director at Atos SE bought 5,000 shares at 49.032EUR and the significance rating of the trade was 75/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showin...
Atos Group has signed a binding agreement to sell its Atos operations ...
Atos Group has signed a binding agreement to sell its Atos operations in South America to the Brazilian company Semantix Press Release Atos Group has signed a binding agreement to sell its Atos operations in South America to the Brazilian company Semantix With this transaction the Atos Group accelerates the delivery of its Genesis Transformation plan. Paris, France – December 26, 2025 – Atos Group, a global leader of AI-powered digital transformation, today announces that it has signed a binding agreement for the sale of its South American operations to the Brazilian company Semantix. T...
Atos Group signe un accord engageant pour céder ses opérations en Amér...
Atos Group signe un accord engageant pour céder ses opérations en Amérique du Sud à la société brésilienne Semantix Communiqué de presse Atos Group signe un accord engageant pour céder ses opérations en Amérique du Sud à la société brésilienne Semantix Avec cette transaction, Atos Group accélère la mise en œuvre de son plan de transformation Genesis. Paris, France – 26 décembre 2025 – Atos Group, un leader mondial de la transformation digitale accélérée par l’IA, annonce aujourd'hui avoir signé un accord engageant pour la cession de ses activités sud-américaines à la société brésilienne...
ALSTOM S.A: Alstom to supply 47 trains and associated maintenance for ...
ALSTOM S.A: Alstom to supply 47 trains and associated maintenance for new rail corridors in Mexico The contract is valued at approximately 20,2 billion Mexican pesos (approximately 920 million euros)New, state of the art trains will be manufactured at Alstom’s Ciudad Sahagún plant, with over 76% of national content The contract also includes comprehensive maintenance for 5 years, fitting out of maintenance depots, inspection and refuelling stations. 26 December 2025 – Alstom, global leader in smart and sustainable mobility, has signed a contract with the Railway Transport Regulatory Agency...
ALSTOM S.A : Alstom va fournir 47 trains ainsi que la maintenance asso...
ALSTOM S.A : Alstom va fournir 47 trains ainsi que la maintenance associée, pour de nouvelles lignes ferroviaires au Mexique Le contrat est évalué à 20,2 milliards de pesos mexicains (soit environ 920 millions d’euros)Les nouveaux trains à la pointe de la technologie seront assemblés sur le site Alstom de Ciudad Sahagún, au Mexique, avec plus de 76 % de contenu local Le contrat comprend également la maintenance complète pendant 5 ans, l’aménagement de dépôts de maintenance, d’ateliers d’inspection et de stations de ravitaillement. 26 décembre 2025 – Alstom, leader mondial de la mobili...
- Carole Braudeau
- Carole Braudeau
ALSTOM S.A: Alstom to supply 23 electric Coradia Stream trains with 10...
ALSTOM S.A: Alstom to supply 23 electric Coradia Stream trains with 10-year associated maintenance to Hellenic Train in Greece Project’s overall goal is to modernise Greek passenger rail servicesThe contract is valued at 393 million euros, including maintenance1The trains will be used for both suburban and intercity routes 22 December 2025 – Alstom, global leader in smart and sustainable mobility, has signed a contract with Hellenic Train, the main private railway company in Greece, for the supply of 23 Coradia Stream Electric Multiple Units (EMUs). The contract, valued at €393 million, i...
ALSTOM S.A : Alstom va fournir 23 trains électriques Coradia Stream av...
ALSTOM S.A : Alstom va fournir 23 trains électriques Coradia Stream avec un contrat de maintenance de 10 ans à Hellenic Train en Grèce L'objectif global du projet est de moderniser les services ferroviaires grecs de transport de passagersLe contrat est évalué à 393 millions d'euros, maintenance comprise1Les trains seront utilisés à la fois pour les lignes suburbaines et interurbaines 22 décembre 2025 – Alstom, leader mondial de la mobilité intelligente et durable, a signé un contrat avec Hellenic Train, la principale compagnie ferroviaire privée en Grèce, pour la fourniture de 23 rames au...
- Carole Braudeau
Credit Morning 12/22/2025
Paris prosecutor's office launches probe into Uranium theft from Somaïr in Niger|Maxeda: weak Q3 results and announcement of restructuring process|Coty appoints Markus Strobel as new chairman and interim CEO|Golden Goose: HSG acquires majority stake|The Belgian government is considering increasing its stake in Ageas according to the Belgian newspaper de Tijd|
- Carole Braudeau
Morning Crédit 22/12/2025
Enquête du parquet de Paris sur le vol d’Uranium de la Somaïr au Niger|Maxeda : faibles résultats T3 et annonce du processus de restructuration|Coty nomme Markus Stroble comme nouveau Chairman et CEO par interim|Golden Goose : HSG acquiert une part majoritaire au capital|Le gouvernement belge envisageait d'augmenter sa participation dans Ageas selon le journal belge De Tijd|
Moody's Ratings changes the outlook on thyssenkrupp AG to stable from ...
Moody's Ratings (Moody's) has today affirmed the Ba3 Corporate Family Rating (CFR) and Ba3-PD Probability of Default Rating (PDR) of thyssenkrupp AG (tk). We have also affirmed the (P)Ba3 rating on tk's senior unsecured EMTN Programme, the Ba3 rating of its senior unsecured notes, its NP commercial ...
- James Ratzer
Cellnex vs. Telefonica Cellnex (Buy, €34, +32%) Telefonica (Reduce, ...
On Wednesday, we published our European Telecoms Year Ahead note for 2026. In that note, we upgraded Cellnex to a Buy, as we think the market’s worst fears on growth are overdone, and we downgraded Telefonica to a Reduce, as we fear the low cashflow growth outlook is not being properly priced in. However, in that sector report, we missed out one important aspect to back up this diverging view of value and we now highlight that here.
- Christian Arnold
- Ghada Ben Sedrine
- Nicolas David
ACN ACCENTURE PLC CLASS A
SRT3 SARTORIUS AG PREF
RBI RAIFFEISEN BANK INTERNATIONAL AG
MONC MONCLER SPA
DIM SARTORIUS STEDIM BIOTECH SA
EMSN EMS-CHEMIE HOLDING AG
SIE SIEMENS AG
CPR DAVIDE CAMPARI-MILANO N.V.
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
SDZ SANDOZ GROUP AG
AENA AENA S.M.E. SA
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