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

Credit Analyst, Lucror Analytics

Chuanyi Zhou

Credit Analyst

Credit

Fantasia’s FY 2018 results were below our expectations, albeit top-line growth was strong. The pace of delivery for sold properties continued to be slow. We foresee higher revenue growth in FY 2019, given the robust contracted sales and undelivered portfolio. The company continues to have a pressing need to refinance, with CNY 4.6 bn domestic Notes and USD 427 mn 1Y Notes coming due in 2019. Fantasia must either boost contracted sales and limit its expansion expenditure, or continue to raise funds from debt. The company’s cost of financing has been increasing. The 2021 Notes issued in December 2019 have a coupon of 15%. Moreover, we remain concerned over Fantasia's rising reliance on 364-day Notes to fund its business, which suggests tight access to other financing channels.

   Fantasia’s FY 2018 results were below our expectations, albeit top-line growth was strong. The pace of delivery for sold properties continued to be slow. We foresee higher revenue growth in FY 2019, given the robust contracted sales and undelivered portfolio.    The company continues to have a pressing need to refinance, with CNY 4.6 bn domestic Notes and USD 427 mn 1Y Notes coming due in 2019. Fantasia must either boost contracted sales and limit its expansion expenditure, or continue to raise funds from debt. The company’s cost of financing has been increasing. The 2021 Notes issued in December 2019 have a coupon of 15%. Moreover, we remain concerned over Fantasia's rising reliance on 364-day Notes to fund its business, which suggests tight access to other financing channels. 

Fantasia - Earnings Flash - FY 2018 Results - Lucror Analytics

Fantasia Holdings Group Co

Fantasia - Earnings Flash - FY 2018 Results - Lucror Analytics