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

COG's FY 2023 results were acceptable in our view. Importantly, the audit issues resulting in the belated publication of results appear to be minor, with auditor PwC giving a clean audit opinion overall. Leverage was largely stable despite the soft earnings, thanks to debt reduction. In addition, we view positively that the guarantees provided to associate Shandong Shengli (which we classify under debt) have largely fallen away. COG's liquidity is adequate, as the company is poised to refinance the bridge loan using a new syndicated loan facility. We move our recommendation to "Buy" from "Hold" on the CHIOIL 4.7 '26s.

  COG's FY 2023 results were acceptable in our view. Importantly, the audit issues resulting in the belated publication of results appear to be minor, with auditor PwC giving a clean audit opinion overall. Leverage was largely stable despite the soft earnings, thanks to debt reduction. In addition, we view positively that the guarantees provided to associate Shandong Shengli (which we classify under debt) have largely fallen away. COG's liquidity is adequate, as the company is poised to refinance the bridge loan using a new syndicated loan facility.   We move our recommendation to "Buy" from "Hold" on the CHIOIL 4.7 '26s. 

China Oil & Gas - Earnings Flash - FY 2023 Results - Lucror Analytics

China Oil And Gas

China Oil & Gas - Earnings Flash - FY 2023 Results - Lucror Analytics