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

Central China Real Estate's (CCRE) FY 2021 results remained weaker than expected, albeit slightly improved from H1. The company's net debt deteriorated y-o-y, and it has now breached all of the regulator's Three Red Lines thresholds. Moreover, liquidity is inadequate and Cash/ST Debt has fallen below 1x. Going forward, we expect CCRE to focus on reducing leverage and increasing cash flows. We view positively Chairman Wu Po Sum's intention to receive his dividends in shares instead of cash, as well as management's improved transparency and disclosures over the last six months. CCRE is optimistic that it can generate sufficient cash collections to repay the USD 500 mn bonds due in August, on the back of supportive measures recently implemented by the Henan government.

  Central China Real Estate's (CCRE) FY 2021 results remained weaker than expected, albeit slightly improved from H1. The company's net debt deteriorated y-o-y, and it has now breached all of the regulator's Three Red Lines thresholds. Moreover, liquidity is inadequate and Cash/ST Debt has fallen below 1x.   Going forward, we expect CCRE to focus on reducing leverage and increasing cash flows. We view positively Chairman Wu Po Sum's intention to receive his dividends in shares instead of cash, as well as management's improved transparency and disclosures over the last six months. CCRE is optimistic that it can generate sufficient cash collections to repay the USD 500 mn bonds due in August, on the back of supportive measures recently implemented by the Henan government. 

Central China - Earnings Flash - FY 2021 Results - Lucror Analytics