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

Softbank Group's (SBG) Q3/20-21 results were robust, with a large Softbank Vision Funds gain on the back of a highly bullish market. However, the NAV declined slightly during the quarter (but continued growing for 9M) due to the drop in Alibaba's share price following the failed IPO of Ant Financial. The financial risk profile remains robust, with the LTV low at 15% (12% at end-September 2020, 16% at FYE 2019-20). It is comforting to hear that SBG will prioritise private investments, instead of public securities where it does not have a track record or expertise. We find the negative outlook by Moody’s and S&P slightly harsh, considering the favourable operating environment for the investment holdco, with most assets having increased in value over the past 12 months. Moreover, Moody’s Ba3 rating is 1-2 notches lower than our own estimate based on the agency's methodology.

  Softbank Group's (SBG) Q3/20-21 results were robust, with a large Softbank Vision Funds gain on the back of a highly bullish market. However, the NAV declined slightly during the quarter (but continued growing for 9M) due to the drop in Alibaba's share price following the failed IPO of Ant Financial. The financial risk profile remains robust, with the LTV low at 15% (12% at end-September 2020, 16% at FYE 2019-20). It is comforting to hear that SBG will prioritise private investments, instead of public securities where it does not have a track record or expertise.   We find the negative outlook by Moody’s and S&P slightly harsh, considering the favourable operating environment for the investment holdco, with most assets having increased in value over the past 12 months. Moreover, Moody’s Ba3 rating is 1-2 notches lower than our own estimate based on the agency's methodology. 

Softbank Group - Earnings Flash - Q3 FY 2020-21 Results - Lucror Analytics