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

Future Retail Limited - High Liquidity Risks

Change of Control Clauses - Adding to Volatility

Future Retail Ltd. - Further Rating Downgrades / Liquidity Update

Senior Credit Analyst, Lucror Analytics

Trung Nguyen

Senior Credit Analyst

Credit

Earlier this morning, Future Retail (FRL) hosted an investor update call. Our key takeaway is that the company's operational profile continues to be robust, but share pledges could become an issue for the group. Our fundamental Credit Bias on FRL is "Stable". We do not expect the company's post-restructuring leverage to change materially. However, deleveraging could occur if FRL is able to grow its earnings. In the near term, negative headlines on the share-pledged debt held by the promoters may weigh on the bond prices, but should have little impact on operations. We maintain our "Hold" recommendation on the FRETAI Notes.

 Earlier this morning, Future Retail (FRL) hosted an investor update call. Our key takeaway is that the company's operational profile continues to be robust, but share pledges could become an issue for the group.  Our fundamental Credit Bias on FRL is "Stable". We do not expect the company's post-restructuring leverage to change materially. However, deleveraging could occur if FRL is able to grow its earnings. In the near term, negative headlines on the share-pledged debt held by the promoters may weigh on the bond prices, but should have little impact on operations.  We maintain our "Hold" recommendation on the FRETAI Notes.

Future Retail - Event Flash - Investor Update - Lucror Analytics