Daily Brief Credit: Morning Views Asia: Lenovo and more

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.

• Lenovo
• Citicore Renewable Energy
• Vedanta Resources

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.

• Lenovo
• Citicore Renewable Energy
• Vedanta Resources

Vista Land & Lifescapes’ (VLL) H1/24 results were acceptable, with improved earnings and margin expansion. That said, cash flows stayed negative and debt continued to rise. Hence, leverage remained moderately weak.

VLL maintains a sizeable portfolio of securities investment and investment properties, which generate recurring income and support the balance sheet. The investments could also be monetised if needed, albeit their market value is unclear. We expect the company’s liquidity needs to be manageable, given VLL’s reasonable access to funding.