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

Hopson’s FY 2020 results beat our expectations. The top-line increase was sound, on the back of robust contracted sales growth in the past two years and a satisfactory pace of delivery. The company has a solid base for revenue recognition, given its strong contracted sales in 2020. Hopson's land bank is very large at 19x the GFA sold in FY 2020. While this means its saleable resources are sufficient, it also introduces execution risk, holding costs and regulatory risk. Furthermore, the quality of the existing land bank is called into question by the fact that the company has been actively adding to the already large reserve. Moreover, some 13% of Hopson's assets are made up of financial investments, which could lead to fluctuations in income going forward. We revise our Credit Bias on Hopson to “Stable” from “Negative”, and move to "Hold" on the HPDLF curve from "Not Recommended".

  Hopson’s FY 2020 results beat our expectations. The top-line increase was sound, on the back of robust contracted sales growth in the past two years and a satisfactory pace of delivery. The company has a solid base for revenue recognition, given its strong contracted sales in 2020.   Hopson's land bank is very large at 19x the GFA sold in FY 2020. While this means its saleable resources are sufficient, it also introduces execution risk, holding costs and regulatory risk. Furthermore, the quality of the existing land bank is called into question by the fact that the company has been actively adding to the already large reserve. Moreover, some 13% of Hopson's assets are made up of financial investments, which could lead to fluctuations in income going forward.   We revise our Credit Bias on Hopson to “Stable” from “Negative”, and move to "Hold" on the HPDLF curve from "Not Recommended". 

Hopson - Earnings Flash - FY 2020 Results - Lucror Analytics

Hopson Development

Hopson - Earnings Flash - FY 2020 Results - Lucror Analytics