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

Sritex’s FY 2020 results were slightly weak, but in line with expectations. Negatively, OCF remained poor, owing to sustained working capital outflows. As a result, debt continued to climb, with leverage rising further. Going forward, we believe any deleveraging will hinge on the company’s ability to improve its working capital management. That said, Sritex’s earnings were largely stable. The company did not face any order cancellations amid the pandemic, and even reported a pick-up in demand from Q3, which should support top-line growth. Sritex has proactively initiated a debt restructuring with its banks. In our view, a successful restructuring would be positive for the bonds, given the current distressed levels. We expect the company to be restructured as a going concern, as its operations and earnings are still sound. Hence, the bonds should retain some intrinsic value. That said, the restructuring process could be lengthy.

  Sritex’s FY 2020 results were slightly weak, but in line with expectations. Negatively, OCF remained poor, owing to sustained working capital outflows. As a result, debt continued to climb, with leverage rising further. Going forward, we believe any deleveraging will hinge on the company’s ability to improve its working capital management. That said, Sritex’s earnings were largely stable. The company did not face any order cancellations amid the pandemic, and even reported a pick-up in demand from Q3, which should support top-line growth.   Sritex has proactively initiated a debt restructuring with its banks. In our view, a successful restructuring would be positive for the bonds, given the current distressed levels. We expect the company to be restructured as a going concern, as its operations and earnings are still sound. Hence, the bonds should retain some intrinsic value. That said, the restructuring process could be lengthy.     

Sritex - Earnings Flash - FY 2020 Results - Lucror Analytics

Sri Rejeki Isman

Sritex - Earnings Flash - FY 2020 Results - Lucror Analytics