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.

Credit

In our sixth report on the liquidity positions of companies in our European HY coverage universe amid the COVID-19 pandemic and oil shock, we analyse issuers in the autos & auto parts sector. For auto players, the impact from the pandemic and related lockdown measures should be moderate to severe. Companies that are heavily exposed to Europe and North America, where auto production has been suspended, will likely be more severely affected. It also remains uncertain when production in these regions will resume fully. Moreover, the lockdown measures are projected to sharply impact auto sales in these regions in the near term.

  In our sixth report on the liquidity positions of companies in our European HY coverage universe amid the COVID-19 pandemic and oil shock, we analyse issuers in the autos & auto parts sector.   For auto players, the impact from the pandemic and related lockdown measures should be moderate to severe. Companies that are heavily exposed to Europe and North America, where auto production has been suspended, will likely be more severely affected. It also remains uncertain when production in these regions will resume fully. Moreover, the lockdown measures are projected to sharply impact auto sales in these regions in the near term.  

COVID-19 / Oil Shock: Liquidity Analysis Of Europe Corporates - Part 6 (Autos & Auto Parts) - Lucror Analytics

The spread of COVID-19 and, to a lesser degree, the oil price war between Russia and Saudi Arabia overshadowed most other issues in March. These twin shocks are posing unprecedented challenges to the Asian HY market. Against this backdrop, we look at recent developments in China, where the pandemic began and where the economy seems to be returning to normal. We also evaluate the liquidity of each name in our coverage universe, in view of the uncertainties that prevail with respect to the macro and business-specific impact of the current situation. The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks and discussing specific areas of interest in the â€œIn-Focusâ€‌ section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market.

  The spread of COVID-19 and, to a lesser degree, the oil price war between Russia and Saudi Arabia overshadowed most other issues in March. These twin shocks are posing unprecedented challenges to the Asian HY market. Against this backdrop, we look at recent developments in China, where the pandemic began and where the economy seems to be returning to normal. We also evaluate the liquidity of each name in our coverage universe, in view of the uncertainties that prevail with respect to the macro and business-specific impact of the current situation.   The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks and discussing specific areas of interest in the â€œIn-Focusâ€‌ section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market. 

Asia HY Monthly - COVID-19 And Oil Shock Update (March 2020) - Lucror Analytics

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.<ul><li><a href='#lucror-entity-27942'>Agility</a></li><li><a href='#lucror-entity-2036'>Central China Securities</a></li><li><a href='#lucror-entity-26799'>Future Retail</a></li><li><a href='#lucror-entity-227'>Guangzhou R&F Properties</a></li><li><a href='#lucror-entity-21047'>Ronshine China Holdings</a></li><li><a href='#lucror-entity-10365'>Sirtex Medical</a></li><li><a href='#lucror-entity-216'>Tata Motors Ltd</a></li></ul>

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.AgilityCentral China SecuritiesFuture RetailGuangzhou R&F PropertiesRonshine China HoldingsSirtex MedicalTata Motors Ltd

Morning Views Asia: Agility, Central China Securities, Future Retail, Guangzhou R&F Properties

In our third report on the liquidity positions of companies in our European HY coverage universe amid the COVID-19 pandemic and oil shock, we analyse issuers in the building materials & construction sector. While the pandemic could bring construction works to a halt and producers may be affected by supply chain disruptions, the lower oil prices may benefit some companies.

  In our third report on the liquidity positions of companies in our European HY coverage universe amid the COVID-19 pandemic and oil shock, we analyse issuers in the building materials & construction sector.   While the pandemic could bring construction works to a halt and producers may be affected by supply chain disruptions, the lower oil prices may benefit some companies. 

COVID-19 / Oil Shock: Liquidity Analysis Of Europe Corporates - Part 3 (Building Materials & Construction) - Lucror Analytics

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.<ul><li><a href='#lucror-entity-16010'>Agung Podomoro Land</a></li><li><a href='#lucror-entity-1776'>Indika Energy</a></li><li><a href='#lucror-entity-3121'>Lippo Karawaci</a></li><li><a href='#lucror-entity-315'>Softbank Group</a></li><li><a href='#lucror-entity-216'>Tata Motors Ltd</a></li><li><a href='#lucror-entity-7817'>Zoomlion Heavy Industry H</a></li></ul>

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.Agung Podomoro LandIndika EnergyLippo KarawaciSoftbank GroupTata Motors LtdZoomlion Heavy Industry H

Morning Views Asia: Agung Podomoro Land, Indika Energy, Lippo Karawaci, Softbank Group

India

Tata Motors Limited manufactures cars and commercial automotive vehicles. The Company designs, manufactures, and sells heavy, medium, and small commercial vehicles including trucks, tankers, vans, buses, ambulances and minibuses. Tata also manufactures small cars and sports utility vehicles.

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Tata Motors Ltd (TTMT IN)

COVID-19 / Oil Shock: Liquidity Analysis Of Europe Corporates - Part 6 (Autos & Auto Parts) - Lucror Analytics

In our sixth report on the liquidity positions of companies in our European HY coverage universe amid the COVID-19 pandemic and oil shock, we...

Lucror Analytics

Asia HY Monthly - COVID-19 And Oil Shock Update (March 2020) - Lucror Analytics

The spread of COVID-19 and, to a lesser degree, the oil price war between Russia and Saudi Arabia overshadowed most other issues in March. These...

Lucror Analytics

Morning Views Asia: Agility, Central China Securities, Future Retail, Guangzhou R&F Properties

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region,...

Lucror Analytics

COVID-19 / Oil Shock: Liquidity Analysis Of Europe Corporates - Part 3 (Building Materials & Construction) - Lucror Analytics

In our third report on the liquidity positions of companies in our European HY coverage universe amid the COVID-19 pandemic and oil shock, we...

Lucror Analytics

Morning Views Asia: Agung Podomoro Land, Indika Energy, Lippo Karawaci, Softbank Group

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region,...

Lucror Analytics

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