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

Trung Nguyen

Senior Credit Analyst

Credit

<p><br>In our view, Indika Energy's FY 2019 results were weak on account of the very low coal prices. The company's financial risk profile has deteriorated significantly. That said, while some of its credit metrics appear weak, we note that it is in the middle of a downcycle, with coal prices at what is historically an extremely low level. With many smaller coal producers being loss-making, it is unlikely that the coal price will fall much further. At least, Indika's negative FCF was negligible in FY 2019.</p>

 In our view, Indika Energy's FY 2019 results were weak on account of the very low coal prices. The company's financial risk profile has deteriorated significantly. That said, while some of its credit metrics appear weak, we note that it is in the middle of a downcycle, with coal prices at what is historically an extremely low level. With many smaller coal producers being loss-making, it is unlikely that the coal price will fall much further. At least, Indika's negative FCF was negligible in FY 2019.

Indika Energy - Earnings Flash - FY 2019 Results - Lucror Analytics