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.

High Yield Experts

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

Credit

Adani Green Energy's FY 2022-23 earnings were strong as expected, supported by robust revenue and EBITDA growth. Net debt was largely stable, thanks to improved operating cash flows and reduced capex. Leverage strengthened, though Net Debt/EBITDA remained weak at 9.8x (FYE 2021-22: 15x). Liquidity is inadequate, albeit we believe the company will be able to obtain project funding for its new plant developments. We view positively management's intention to communicate refinancing plans for the 2024 bonds by June 2023.

  Adani Green Energy's FY 2022-23 earnings were strong as expected, supported by robust revenue and EBITDA growth. Net debt was largely stable, thanks to improved operating cash flows and reduced capex. Leverage strengthened, though Net Debt/EBITDA remained weak at 9.8x (FYE 2021-22: 15x).   Liquidity is inadequate, albeit we believe the company will be able to obtain project funding for its new plant developments. We view positively management's intention to communicate refinancing plans for the 2024 bonds by June 2023. 

Adani Green Energy - Earnings Flash - FY 2022-23 Results - Lucror Analytics