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

We view China Jinmao as "Low Risk" on the LARA scale. The company is one of Sinochem's most profitable subsidiaries, and enjoys sound relationships with provincial governments. Overall, we believe Jinmao's credit profile is supported by its SOE status. A Change of Control will be triggered under the USD notes indenture if Sinochem ceases to be Jinmao's largest/controlling shareholder. In addition, the indenture for Sinochem's offshore notes contain cross acceleration in the event of default by any significant subsidiary. Our fundamental Credit Bias on Jinmao is "Negative", on account of the industry's prolonged sales weakness and the company's uncertain access to offshore capital markets. T Controversies are "Immaterial" and the ESG Impact on Credit is "Neutral".

  We view China Jinmao as "Low Risk" on the LARA scale. The company is one of Sinochem's most profitable subsidiaries, and enjoys sound relationships with provincial governments. Overall, we believe Jinmao's credit profile is supported by its SOE status. A Change of Control will be triggered under the USD notes indenture if Sinochem ceases to be Jinmao's largest/controlling shareholder. In addition, the indenture for Sinochem's offshore notes contain cross acceleration in the event of default by any significant subsidiary.   Our fundamental Credit Bias on Jinmao is "Negative", on account of the industry's prolonged sales weakness and the company's uncertain access to offshore capital markets. T   Controversies are "Immaterial" and the ESG Impact on Credit is "Neutral". 

China Jinmao - Tear Sheet - Lucror Analytics

China Jinmao Holdings

China Jinmao - Tear Sheet - Lucror Analytics