Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

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.

Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable). We assess Ecopetrol's ESG as "Adequate", in line with its Governance score. The company has "Strong" scores for the Environmental and Social pillars. Controversies are "Immaterial" and Disclosure is "Strong".

Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).  We assess Ecopetrol's ESG as "Adequate", in line with its Governance score. The company has "Strong" scores for the Environmental and Social pillars. Controversies are "Immaterial" and Disclosure is "Strong". 

Ecopetrol - ESG Report - Lucror Analytics

Product Marketing Manager, Criat

Raghav Chandra Mathur

Product Marketing Manager

Next-Generation Credit Analytics Provider

Criat

Criat specializes in new-generation data-driven credit analytics. Leveraging our industry-leading DeepCredit analytical technologies, we produce daily-updated forward-looking credit assessment and valuation to help financial institutions stay ahead of risks. Coupled with use-case-driven applications, we extract insights, answer questions and enable smarter credit decisions.

Thematic (Sector/Industry)

<ul>
<li>Oil spot prices have gained at a relatively stable pace since the start of 2024, with crude prices rising close to 19% year to date.</li>
<li>Robust demand due to recovery in economic activity across major markets has been a steady tailwind to oil prices despite the prevalent geo-political catalysts that have spurred across global markets.</li>
<li>Globally listed oil and gas producers and service providers have therefore seen a marginal improvement in their aggregate credit risk profiles, with their Criat Credit Cycle Index (CCCI) dropping by close to 2bps over the same period.</li>
</ul>


Oil spot prices have gained at a relatively stable pace since the start of 2024, with crude prices rising close to 19% year to date.
Robust demand due to recovery in economic activity across major markets has been a steady tailwind to oil prices despite the prevalent geo-political catalysts that have spurred across global markets.
Globally listed oil and gas producers and service providers have therefore seen a marginal improvement in their aggregate credit risk profiles, with their Criat Credit Cycle Index (CCCI) dropping by close to 2bps over the same period.


Global O&G Firms' Credit Quality Improves on Tighter Oil Markets

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

<ul><li>The government of Colombia seeks to accelerate the country’s path toward net zero emissions, while investors question the implications for the country’s oil &amp; gas industry.</li><li>This report is the third in a three-part WTR Energy Focus series on Colombia. It follows Oil &amp; Gas Operators Guiding for Bottom-Up Growth… and Striking a Balance Between Energy Security and Fiscal Stability.</li><li>Colombia’s natural gas demand will increase due to an energy transition and upstream operators with gas exposure realizing strong gas prices in an undersupplied market (as shown on right).</li></ul>

The government of Colombia seeks to accelerate the country’s path toward net zero emissions, while investors question the implications for the country’s oil &amp; gas industry.This report is the third in a three-part WTR Energy Focus series on Colombia. It follows Oil &amp; Gas Operators Guiding for Bottom-Up Growth… and Striking a Balance Between Energy Security and Fiscal Stability.Colombia’s natural gas demand will increase due to an energy transition and upstream operators with gas exposure realizing strong gas prices in an undersupplied market (as shown on right).

Energy Focus: Colombia Series (3 of 3) - The Path to Net Zero and Implications for Oil & Gas

Providing investors with a balanced perspective, Massif Capital

Massif Capital Research

Providing investors with a balanced perspective

Massif Capital

Research focused on providing investors with a balanced perspective on the environmental and economic realities of achieving a carbon-neutral economy for businesses within the Energy, Basic Materials and Industrial industries.

The Massif Capital Real Asset Strategy is a global long/short equity strategy built around bottom-up stock picking. We are focused on creating a portfolio of businesses from within the Energy, Basic Materials and Industrial sectors that balance the environmental and economic realities of achieving a carbon-neutral economy.

Macroeconomics

<ul>
<li>Frequent readers of our blog posts and research papers likely are well acquainted with our underlying philosophy that commodity prices alone do not provide a compelling rationale for investing in real asset businesses</li>
<li>Instead, as a result of decomposing the returns of individual real assets businesses, we have found that these stocks often exhibit a broader range of return drivers</li>
<li>One such driver is political risk.</li>
</ul>


Frequent readers of our blog posts and research papers likely are well acquainted with our underlying philosophy that commodity prices alone do not provide a compelling rationale for investing in real asset businesses
Instead, as a result of decomposing the returns of individual real assets businesses, we have found that these stocks often exhibit a broader range of return drivers
One such driver is political risk.


Political Risk and Investing: Seeking Opportunity Amidst Disruption

Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable). We assess Ecopetrol's ESG as "Adequate". Based on our industry relevance assessment, we have assigned a higher weightage to the Environmental pillar. The company has a "Strong" score for the Environmental pillar, while its Social and Governance pillars are "Adequate". Controversies are "Immaterial" and Disclosure is "Strong".

Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).  We assess Ecopetrol's ESG as "Adequate". Based on our industry relevance assessment, we have assigned a higher weightage to the Environmental pillar. The company has a "Strong" score for the Environmental pillar, while its Social and Governance pillars are "Adequate". Controversies are "Immaterial" and Disclosure is "Strong". 

Colombia

Ecopetrol SA is an integrated oil company. The Company owns interests in  oil producing fields in the central area, south, west and north of Colombia as well as refineries, ports for fuel exports and imports on both coasts and the transportation network of pipelines and polyducts throughout the Colombian territory.

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Ecopetrol (ECOPETL CB)

Ecopetrol - ESG Report - Lucror Analytics

Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable). We assess Ecopetrol's ESG as...

Lucror Analytics

Global O&G Firms' Credit Quality Improves on Tighter Oil Markets

Oil spot prices have gained at a relatively stable pace since the start of 2024, with crude prices rising close to 19% year to date. Robust demand...

Criat

Energy Focus: Colombia Series (3 of 3) - The Path to Net Zero and Implications for Oil & Gas

The government of Colombia seeks to accelerate the country’s path toward net zero emissions, while investors question the implications for the...

Water Tower Research

Political Risk and Investing: Seeking Opportunity Amidst Disruption

Frequent readers of our blog posts and research papers likely are well acquainted with our underlying philosophy that commodity prices alone do...

Massif Capital Research

Ecopetrol - ESG Report - Lucror Analytics

Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable). We assess Ecopetrol's ESG as...

Lucror Analytics

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