Senior Credit Analyst, Lucror Analytics

Tanvi Arora

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

Adani Green Energy Limited operates as a producer of renewable energy. The Company builds, owns, and operates power plants for solar and wind energy. Adani Green Energy serves customers worldwide.


<ul>
<li>Adani Green Energy Limited (AGEL) is one of the world’s largest developers and operators of solar and wind power.</li>
<li>The company’s assets are geographically diversified across India, with total locked-in capacity of 20.4 GW (of which 10.9 GW was operational as of June 2024).</li>
<li>AGEL is listed on the Bombay Stock Exchange and National Stock Exchange of India. </li>
</ul>


Adani Green Energy Limited (AGEL) is one of the world’s largest developers and operators of solar and wind power.
The company’s assets are geographically diversified across India, with total locked-in capacity of 20.4 GW (of which 10.9 GW was operational as of June 2024).
AGEL is listed on the Bombay Stock Exchange and National Stock Exchange of India. 


Adani Green Energy - ESG Report - Lucror Analytics

<ul>
<li>The US indictment of key executives is a material credit negative for the Adani Group, with the allegations being more serious than those from Hindenburg Research’s short-sell report in January 2023.</li>
<li>In the near term, the US indictment is likely to constrain the group’s access to financing, particularly in the offshore market.</li>
<li>We note that the Justice Department's charges are directed at the individual executives, not at Adani Green Energy or other group entities.</li>
</ul>


The US indictment of key executives is a material credit negative for the Adani Group, with the allegations being more serious than those from Hindenburg Research’s short-sell report in January 2023.
In the near term, the US indictment is likely to constrain the group’s access to financing, particularly in the offshore market.
We note that the Justice Department's charges are directed at the individual executives, not at Adani Green Energy or other group entities.


Adani Green Energy - Event Flash - US Charges Gautam Adani And 2 AGEL Executives

Leonard Law, CFA

Adani Ports & Special Economic Zone / Credit

Adani Ports and Special Economic Zone operates a shipping port on the west coast of India.  The Company's port provides services for bulk and container cargo, crude oil, and railway and other added services.

Adani Ports & Special Economic Zone (ADSEZ IN)

Adani Ports - Event Flash - US Charges Gautam Adani And 2 AGEL Executives - Lucror Analytics

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Adani Green Energy, Yankuang Energy</li>
<li>In the US, treasuries edged higher yesterday, with yields declining 2-4 bps across the curve on possible dip buying and despite a large slate of corporate bond issuances.</li>
<li>The yield on the 2Y UST fell 3 bps to 4.28%, while the 10Y declined 3 bps to 4.41%. Equities rebounded from last week’s losses, with the S&amp;P 500 and Nasdaq up 0.4% and 0.6%, respectively.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Adani Green Energy, Yankuang Energy
In the US, treasuries edged higher yesterday, with yields declining 2-4 bps across the curve on possible dip buying and despite a large slate of corporate bond issuances.
The yield on the 2Y UST fell 3 bps to 4.28%, while the 10Y declined 3 bps to 4.41%. Equities rebounded from last week’s losses, with the S&amp;P 500 and Nasdaq up 0.4% and 0.6%, respectively.


Trung Nguyen

Tata Steel Ltd. is an integrated steel producer which manufactures a variety of steel products. The Company's products include steel ball bearing rings, alloy steel bearing rings, annular forgings, flanges, bearings, welded steel tubes, cold rolled strips and seamless tubes. Tata Steel also manufactures metallurgical machinery.

<ul>
<li>Tata Steel’s Q2/24-25 results were acceptable and in line with expectations.</li>
<li>The operating environment remains challenging due to surging exports from China, which have weighed on steel prices.</li>
<li>The company's earnings improved y-o-y but declined q-o-q.</li>
</ul>


Tata Steel’s Q2/24-25 results were acceptable and in line with expectations.
The operating environment remains challenging due to surging exports from China, which have weighed on steel prices.
The company's earnings improved y-o-y but declined q-o-q.


India Bonds
Insights on India Credit

Adani Green Energy - ESG Report - Lucror Analytics

The company’s assets are geographically diversified across India, with total locked-in capacity of 20.4 GW (of which 10.9 GW was operational as of...

Lucror Analytics

Adani Green Energy - Event Flash - US Charges Gautam Adani And 2 AGEL Executives

The US indictment of key executives is a material credit negative for the Adani Group, with the allegations being more serious than those from...

Lucror Analytics

Adani Ports - Event Flash - US Charges Gautam Adani And 2 AGEL Executives - Lucror Analytics

The US indictment of key executives is a material credit negative for the Adani Group, with the allegations being more serious than those from...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Adani Green Energy, Yankuang Energy

Lucror Analytics

Tata Steel - Acceptable Numbers

Tata Steel’s Q2/24-25 results were acceptable and in line with expectations.The operating environment remains challenging due to surging exports...

Lucror Analytics