October 4, 2023, Wednesday
12:00 PM – 1:00 PM CT...
Read MoreMU – Base Case CDS 164bps, Base Case iCDS 41bps
Negative Case iCDS 65bps, 2028 5.375% Bond YTW of 6.3442%, iYTW of 5.202%
Baa3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
Read MoreBA – Base Case CDS 103bps, Base Case iCDS 16bps
Negative Case iCDS 27bps, 2028 3.250% Bond YTW of 6.173%, iYTW of 4.955%
Baa2 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens
Low Refinancing Need...
Read MoreFeatured Top Idea
DVN – Devon Energy Corporation
Action: Buy 2027 5.250% Bonds CUSIP: 25179MBD4 (6.392% YTW, 5.392% iYTW)
Buy 2028 5.875% Bonds CUSIP: 25179MBE2 (6.341% YTW, 5.211% iYTW)
Buy 2030 4.500% Bonds CUSIP: 25179MBF9 (6.655% YTW, 5.365% iYTW)...
TEX – Traded CDS 237bps, Base Case iCDS 152bps,
Negative Case 352bps, 2029 5.000% Bond YTW of 7.596%, iYTW of 6.386%,
Ba3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
Read MoreROST – Base Case iCDS 48bps,
Negative Case iCDS 54bps, 2027 4.700% Bond YTW of 5.922%, iYTW of 5.199%,
A2 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
Read MoreDVN – Base Case CDS 115bps, Base Case iCDS 51bps,
Negative Case iCDS 67bps, 2028 5.875% Bond YTW of 6.341%, iYTW of 5.211%,
Baa2 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
Read MoreFeatured Top Idea
ZIP – ZipRecruiter, Inc.
Action: Buy 2030 5.000% Bonds CUSIP: 98980BAA1 (9.631% YTW, 7.191% iYTW)...