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 this month’s “In-Focus” section, we provide an update on the Indonesian real estate sector, including the impact of the ongoing COVID-19 crisis, regulatory and accounting developments, and the macro outlook. We also comment broadly on the H1/20 results of the Indonesian real estate players under our coverage. 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 “In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market.

  In this month’s “In-Focus” section, we provide an update on the Indonesian real estate sector, including the impact of the ongoing COVID-19 crisis, regulatory and accounting developments, and the macro outlook. We also comment broadly on the H1/20 results of the Indonesian real estate players under our coverage.   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 “In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market.  

Asia HY Monthly - Indonesian Property Update (2020) - Lucror Analytics

The Asia HY Trade Recommendations report for the month of August includes a summary of our recommendations, as well as our high-conviction ideas. The report also features relative-value charts and lists of the bonds in the Lucror Asia HY index.

  The Asia HY Trade Recommendations report for the month of August includes a summary of our recommendations, as well as our high-conviction ideas. The report also features relative-value charts and lists of the bonds in the Lucror Asia HY index. 

Asia HY Trade Recommendations - August 2020 - Lucror Analytics

Indian Accounting Research Analyst, Trudence Capital Advisors

Nitin Mangal

Indian Accounting Research Analyst

Forensic Accounting

<a href="https://www.smartkarma.com/entities/jsw-energy-ltd" target="_blank" data-smartkarma-citation="entities:14949:1" rel="noopener">JSW Energy Ltd (JSW IN)</a> in its annual general meeting faced heat from the minority shareholders, who had turned against transactions with promoter group company. Also, the Executive Director and Chief Financial Officer Mr. Jyoti Kumar Agarwal has resigned from the company on August 24, 2020.

JSW Energy Ltd (JSW IN) in its annual general meeting faced heat from the minority shareholders, who had turned against transactions with promoter group company. Also, the Executive Director and Chief Financial Officer Mr. Jyoti Kumar Agarwal has resigned from the company on August 24, 2020.

Trung Nguyen

Tata Steel’s Q1/20-21 results were dismal on account of the demand crunch stemming from COVID-19 lockdowns. We believe this would have been the trough in terms of performance and should be followed by gradual improvement. Leverage ratios spiked in the quarter and coverage ratios deteriorated to stressed levels. Liquidity stood at INR 20,144 cr, and the company did not report the amount of short-term debt.

  Tata Steel’s Q1/20-21 results were dismal on account of the demand crunch stemming from COVID-19 lockdowns. We believe this would have been the trough in terms of performance and should be followed by gradual improvement. Leverage ratios spiked in the quarter and coverage ratios deteriorated to stressed levels. Liquidity stood at INR 20,144 cr, and the company did not report the amount of short-term debt. 

Tata Steel - Earnings Flash - Q1 FY 2020-21 Results - Lucror Analytics

In this month’s “In-Focus” section, we discuss LARA and Credit Bias developments for companies under our coverage over the past few years, including related trends for and between Asia, LatAm and Europe. 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 “In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market.

  In this month’s “In-Focus” section, we discuss LARA and Credit Bias developments for companies under our coverage over the past few years, including related trends for and between Asia, LatAm and Europe.   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 “In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market. 

Asia HY Monthly - LARA And Credit Bias Study (2020 Update) - Lucror Analytics

India

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.

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Tata Steel Ltd (TATA IN)

Asia HY Monthly - Indonesian Property Update (2020) - Lucror Analytics

In this month’s “In-Focus” section, we provide an update on the Indonesian real estate sector, including the impact of the ongoing COVID-19...

Lucror Analytics

Asia HY Trade Recommendations - August 2020 - Lucror Analytics

The Asia HY Trade Recommendations report for the month of August includes a summary of our recommendations, as well as our high-conviction ideas....

Lucror Analytics

JSW Energy: Fresh Trouble

JSW Energy Ltd (JSW IN) in its annual general meeting faced heat from the minority shareholders, who had turned against transactions with promoter...

Nitin Mangal

Tata Steel - Earnings Flash - Q1 FY 2020-21 Results - Lucror Analytics

Tata Steel’s Q1/20-21 results were dismal on account of the demand crunch stemming from COVID-19 lockdowns. We believe this would have been the...

Lucror Analytics

Asia HY Monthly - LARA And Credit Bias Study (2020 Update) - Lucror Analytics

In this month’s “In-Focus” section, we discuss LARA and Credit Bias developments for companies under our coverage over the past few years,...

Lucror Analytics

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