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

Trung Nguyen

Senior Credit Analyst

Credit

We view Anton Oilfield as “Very High Risk” on the LARA scale due to the challenges facing the oil market, which will likely result in large capex cuts by oil players. This takes into account the company's: [1] small scale; [2] customer concentration; and [3] expertise in horizontal drilling, which is expensive and would likely be cut during a downturn. Anton may face heightened geopolitical risk due to its increased exposure to Iraq, with almost 60% of the order book derived from the Middle East and Central Africa. The shale gas business in China may be more stable than other parts of the oil upstream industry, due to the government’s directive. Anton’s backlog translates to more than a year's worth of revenue.   Our Credit Bias remains “Negative” in view of the recent drop in oil prices, which should result in a large cut in capex by upstream players. The Credit Bias also considers operational risks associated with the COVID-19 pandemic. We view Anton as “Weak” on the LAGA scale. The company is controlled by Chairman Luo Lin, who has a 22.6% stake. Most of Mr Luo’s shares are held through Pro Development Holdings. Related-party transactions are immaterial.

  We view Anton Oilfield as “Very High Risk” on the LARA scale due to the challenges facing the oil market, which will likely result in large capex cuts by oil players. This takes into account the company's: [1] small scale; [2] customer concentration; and [3] expertise in horizontal drilling, which is expensive and would likely be cut during a downturn. Anton may face heightened geopolitical risk due to its increased exposure to Iraq, with almost 60% of the order book derived from the Middle East and Central Africa. The shale gas business in China may be more stable than other parts of the oil upstream industry, due to the government’s directive. Anton’s backlog translates to more than a year's worth of revenue.     Our Credit Bias remains “Negative” in view of the recent drop in oil prices, which should result in a large cut in capex by upstream players. The Credit Bias also considers operational risks associated with the COVID-19 pandemic.   We view Anton as “Weak” on the LAGA scale. The company is controlled by Chairman Luo Lin, who has a 22.6% stake. Most of Mr Luo’s shares are held through Pro Development Holdings. Related-party transactions are immaterial. 

Anton Oilfield - Tear Sheet - Lucror Analytics