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

The Q4/20 results​ of Melco Resorts and Entertainment (MLCO) were within expectations, with the improved q-o-q earnings being in line with the industry development. While liquidity remains strong, we caution that the company’s sizeable cash buffer could be drained by its substantial capex plans. We also believe MLCO’s debt will continue to rise through FY 2021. During the earnings call, management’s tone was markedly more optimistic compared to earlier calls. The company foresees  that the industry will continue to recover in 2021, amid strong pent-up demand (this drove a better than expected performance over the tail end of the Chinese New Year period). Management is also hopeful that the low number of COVID-19 cases in Macau and the Mainland, as well as the rollout of vaccines in both regions, will result in a further relaxation of border restrictions.

  The Q4/20 results​ of Melco Resorts and Entertainment (MLCO) were within expectations, with the improved q-o-q earnings being in line with the industry development. While liquidity remains strong, we caution that the company’s sizeable cash buffer could be drained by its substantial capex plans. We also believe MLCO’s debt will continue to rise through FY 2021.   During the earnings call, management’s tone was markedly more optimistic compared to earlier calls. The company foresees  that the industry will continue to recover in 2021, amid strong pent-up demand (this drove a better than expected performance over the tail end of the Chinese New Year period). Management is also hopeful that the low number of COVID-19 cases in Macau and the Mainland, as well as the rollout of vaccines in both regions, will result in a further relaxation of border restrictions. 

Melco Resorts - Earnings Flash - FY 2020 Results - Lucror Analytics

Melco Resorts & Entertainment

Melco Resorts - Earnings Flash - FY 2020 Results - Lucror Analytics