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 tone of Macau’s policy consultation document appears to mainly emphasise social stability. This is to be achieved through greater governmental supervision to curb illegal activities, as well as diversifying the city's economy and having gaming operators focus on social responsibilities. In our view, the proposal to introduce government representatives to monitor day-to-day operations should have a bigger impact on the US-based operators. This is particularly if the heightened supervision results in the authorities having an influence on the operators’ business activities. It is likely that the government intends to have the companies toe the official line (in terms of curbing illegal activities, increasing social commitments and other government directives). In addition, the government plans to raise the shareholdings of Macanese directors in the concessionaires from the current 10%. These requirements could put the US-based operators in a difficult spot, while they should not be an issue for local operators. The proposed supervision of dividend payments could result in the government limiting aggressive payouts, amid calls for greater social spending from the operators. This would be broadly credit neutral. That said, the heightened social spending requirements could lower operators’ future profitability.

  The tone of Macau’s policy consultation document appears to mainly emphasise social stability. This is to be achieved through greater governmental supervision to curb illegal activities, as well as diversifying the city's economy and having gaming operators focus on social responsibilities.   In our view, the proposal to introduce government representatives to monitor day-to-day operations should have a bigger impact on the US-based operators. This is particularly if the heightened supervision results in the authorities having an influence on the operators’ business activities. It is likely that the government intends to have the companies toe the official line (in terms of curbing illegal activities, increasing social commitments and other government directives). In addition, the government plans to raise the shareholdings of Macanese directors in the concessionaires from the current 10%. These requirements could put the US-based operators in a difficult spot, while they should not be an issue for local operators.   The proposed supervision of dividend payments could result in the government limiting aggressive payouts, amid calls for greater social spending from the operators. This would be broadly credit neutral. That said, the heightened social spending requirements could lower operators’ future profitability. 

Wynn Macau - Event Flash - Implications Of Prospective Regulatory Changes In Macau - Lucror Analytics

Wynn Macau Ltd

Wynn Macau - Event Flash - Implications Of Prospective Regulatory Changes In Macau - Lucror Analytics