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

Seazen’s FY 2020 results were in line with our expectation, with the company accelerating its pace of delivery in H2, and maintaining a reasonable pace of debt growth while building up its inventory base. Contracted sales have finally shown signs of recovery in early 2021, despite the declining ASP trend, which will continue to pressure the already-low margins. The company’s access to financing has been restored. However, the cost of borrowing has been growing, and the use of trust financing has increased. After a pause in H2/19, Seazen has resumed its rapid expansion, which has been funded by high-cost debt. The liquidity profile is sound, with the cash position adequately covering short-term debt. While recurring income has been growing, it still cannot cover the rising interest expense. Even so, Seazen has been ambitious in expanding the commercial property segment, which is capital intensive and looks set to further strain leverage.

  Seazen’s FY 2020 results were in line with our expectation, with the company accelerating its pace of delivery in H2, and maintaining a reasonable pace of debt growth while building up its inventory base. Contracted sales have finally shown signs of recovery in early 2021, despite the declining ASP trend, which will continue to pressure the already-low margins.   The company’s access to financing has been restored. However, the cost of borrowing has been growing, and the use of trust financing has increased. After a pause in H2/19, Seazen has resumed its rapid expansion, which has been funded by high-cost debt.   The liquidity profile is sound, with the cash position adequately covering short-term debt. While recurring income has been growing, it still cannot cover the rising interest expense. Even so, Seazen has been ambitious in expanding the commercial property segment, which is capital intensive and looks set to further strain leverage. 

Seazen - Earnings Flash - FY 2020 Results - Lucror Analytics

Seazen (Formerly Future Land)

Seazen - Earnings Flash - FY 2020 Results - Lucror Analytics