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

Olam’s H2/20 results were acceptable, given the improved top line and EBIT. Negatively, the company’s working capital outflows were surprisingly large, resulting in significantly negative FCF generation and weaker leverage. We believe the erratic working capital movements reflect the inherent volatility of Olam’s commodity trading businesses. Separately, the business re-segmentation has been completed, which we believe has led to improved disclosure. At present, management has yet to provide guidance on the capital structure of each business unit post-IPO. We believe such information will be critical in helping bondholders understand the subordination risk of their investments.

  Olam’s H2/20 results were acceptable, given the improved top line and EBIT. Negatively, the company’s working capital outflows were surprisingly large, resulting in significantly negative FCF generation and weaker leverage. We believe the erratic working capital movements reflect the inherent volatility of Olam’s commodity trading businesses.   Separately, the business re-segmentation has been completed, which we believe has led to improved disclosure. At present, management has yet to provide guidance on the capital structure of each business unit post-IPO. We believe such information will be critical in helping bondholders understand the subordination risk of their investments. 

Olam - Earnings Flash - FY 2020 Results - Lucror Analytics

Olam Group

Olam - Earnings Flash - FY 2020 Results - Lucror Analytics