GM – Traded CDS 183bps, Base Case iCDS 90bps,
Negative Case iCDS 143bps, 2027 4.200% Bond YTW of 5.768%, iYTW of 4.871%,
Baa3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
Read MoreGM – Traded CDS 183bps, Base Case iCDS 90bps,
Negative Case iCDS 143bps, 2027 4.200% Bond YTW of 5.768%, iYTW of 4.871%,
Baa3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
Read MoreWDC – Western Digital Corporation
Action: Buy 2026 4.750% Bonds CUSIP: 958102AM7 (7.205% YTW, 5.399% iYTW)
Buy 2029 2.850% Bonds CUSIP: 958102AQ8 (7.526% YTW, 5.526% iYTW)...
HES – Base Case CDS 123bps, Base Case iCDS 51bps,
Negative Case iCDS 70bps, 2027 4.300% Bond YTW of 5.577%, iYTW of 4.481%,
Baa3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
Read MoreSKT – No Traded CDS, Base Case iCDS 302bps,
Negative Case iCDS 346bps, 2027 3.875% Bond YTW of 6.939%, iYTW of 7.749%,
Baa3 Rating from Moody’s, HY1 (equivalent to Ba2) Rating from Valens,
High Refinancing Need...
Read MoreBA – Base Case CDS 152bps, Base Case iCDS 17bps
Negative Case iCDS 32bps, 2026 2.250% Bond YTW of 6.061%, iYTW of 4.461%,
Baa2 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens,
Low Refinancing Need...
Read MoreAMKR – Traded CDS 212bps, Base Case iCDS 150bps
Negative Case iCDS 225bps, 2027 6.625% Bond YTW of 7.014, iYTW of 6.554%
Ba3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
Read MoreFCX – Base Case CDS 175bps, Base Case iCDS 70bps
Negative Case iCDS 108bps, 2027 5.000% Bond YTW of 6.182%, iYTW of 5.102%
Baa3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
Read MoreFeatured Top Idea
MU – Micron Technology, Inc.
Action: Buy 2027 4.185% Bonds CUSIP: 595112BP7 (6.265% YTW, 4.822% iYTW)...
WDC – Base Case CDS 290bps, Base Case iCDS 135bps
Negative Case iCDS 400bps, 2026 4.750% Bond YTW of 7.205%, iYTW of 5.399%
Baa3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
Read More