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 FY 2020 results of Tunas Baru Lampung (TBLA) were mixed. While earnings growth was strong, we deem the company’s continued poor FCF generation a major credit negative. Debt continued to climb, in order to fund the FCF deficit, albeit earnings-based leverage was stable. Liquidity is poor, with TBLA reliant on short-term debt funding. It is unclear whether the company can successfully issue new Notes to refinance the ‘23s, given the current weak financing environment. In its latest media release, TBLA announced that the tenor of its planned bond issuance has been shortened to five years, from seven years as stated previously.

  The FY 2020 results of Tunas Baru Lampung (TBLA) were mixed. While earnings growth was strong, we deem the company’s continued poor FCF generation a major credit negative. Debt continued to climb, in order to fund the FCF deficit, albeit earnings-based leverage was stable. Liquidity is poor, with TBLA reliant on short-term debt funding.   It is unclear whether the company can successfully issue new Notes to refinance the ‘23s, given the current weak financing environment. In its latest media release, TBLA announced that the tenor of its planned bond issuance has been shortened to five years, from seven years as stated previously. 

Tunas Baru - Earnings Flash - FY 2020 Results - Lucror Analytics