Daily Brief Credit: Perusahaan Listrik (PLN) - Tear Sheet - Lucror Analytics and more

In today’s briefing:

Perusahaan Listrik (PLN) – Tear Sheet – Lucror Analytics

We view Perusahaan Listrik Negara (PLN) as “Low Risk” on our LARA scale, primarily driven by the company’s strategic importance to Indonesia and SOE status (100% owned by the government).
PLN controls a 62% share of Indonesia’s upstream power generation, and is also the country’s sole downstream electric utility.
The company plays a critical role in ensuring affordable and reliable access to electricity for the population, as well as helping Indonesia transition to cleaner energy in the upstream sector (away from coal).

In today’s Morning Views publication we comment on developments of the following high yield issuers: Cikarang Listrindo
In the US, January new home sales fell 10.5% m-o-m to a three-month low of 657 k annualised units (680 k e / 734 k p). The decline reflects weather conditions (as several regions experienced record snowfall in January), as well as affordability concerns amid high prices and mortgage rates. Separately, building permits fell 0.6% (-0.7% p) in the same month.
Atlanta Fed President Raphael Bostic said the US central bank should hold interest rates where they are and retain a “restrictive posture”. He added: “You can say that we are hitting our employment mandate, and now we have to get the price stability mandate under control.”

Despite a temporary increase in operating costs, Vista Energy’s solid credit metrics, expanding production, and new pipeline capacity reinforce growth potential
We maintain our Outperform recommendation on Vista Energy. We view Vista as an attractive option for investors seeking exposure to Argentina’s energy sector.
From a credit perspective. The results reflected a higher debt balance, primarily driven by the $600 million issuance in December.

Before it’s here, it’s on Smartkarma

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network