Featured Top Idea
HLX – Helix Energy Solutions Group, Inc.
Action: Buy 2029 9.750% Bond CUSIP: 42330PAL (7.055% YTW, 6.256% iYTW)...
The Latest from Credit News
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February 4, 2026
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January 21, 2026
Featured Top Idea
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WMS – Advanced Drainage Systems, Inc.
Action: Buy 2030 4.000% Bonds CUSIP: 00790RAB0 (4.922% YTW, 4.546% iYTW)... -
January 21, 2026
F – Base Case iCDS 78bps,
Negative Case iCDS 268bps, 2031 7.450% Bond YTW of 5.157%, iYTW of 4.541%,
Ba1 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens,
Low Refinancing Need...
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January 21, 2026
SWKS – Base Case iCDS 91bps,
Negative Case iCDS 153bps, 2031 3.000% Bond YTW of 5.058%, iYTW of 4.677%,
Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
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January 14, 2026
Featured Top Idea
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XYZ – Block Inc.
Action: Buy 2031 3.500% Bonds CUSIP: 852234AM5 (4.872% YTW, 4.438% iYTW)... -
January 8, 2026
Featured Top Idea
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CIEN – Ciena Corporation
Action: Buy 2030 4.000% Bonds, CUSIP: 171779AL5 (5.069% YTW, 4.150% iYTW)... -
December 29, 2025
CIEN – Base Case iCDS 49bps
Negative Case iCDS 87bps, 2030 4.000% Bond YTW of 5.069%, iYTW of 4.150%
Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
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December 17, 2025
Featured Top Idea
AR – Antero Resources CorporationAction: Buy 2030 5.375% Bonds CUSIP: 03674XAS5 (5.023% YTW, 4.421% iYTW)...
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December 16, 2025
EAT – Base Case iCDS 116bps
Negative Case iCDS 132bps, 2030 8.250% Bond YTW of 4.506%, iYTW of 4.946%
Ba2 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
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December 11, 2025
WMS – Base Case iCDS 96bps,
Negative Case iCDS 136bps, 2030 6.375% Bond YTW of 5.102%, iYTW of 4.573%,
a1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
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December 10, 2025
Featured Top Idea
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ON – ON Semiconductor Corporation
Action: Buy 2028 3.875% Bonds CUSIP: 682189AQ8 (4.914% YTW, 4.234% iYTW)... -
December 10, 2025
AR – Base Case CDS 73bps, Base Case iCDS 87bps,
Negative Case iCDS 94bps, 2030 5.375% Bond YTW of 5.023%, iYTW of 4.421%,
Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
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November 26, 2025
Featured Top Idea
CRS – Carpenter Technology CorporationAction: Buy 2034 5.625% Bonds CUSIP: 144285AN3 (5.520% YTW, 4.424% iYTW)...
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November 19, 2025
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F – Ford Motor Company
Action: Buy 2028 6.625% Bonds CUSIP: 345370BT6 (4.554% YTW, 4.439% iYTW)
Buy 2030 9.625% Bonds CUSIP: 345370CX6 (5.014% YTW, 4.560% iYTW)
Buy 2031 7.450% Bonds CUSIP: 345370CA6 (5.214% YTW, 4.560% iYTW)
Buy 2032 3.250% Bonds CUSIP: 345370DA5 (5.554% YTW, 4.965% iYTW)
Buy 2032 6.100% Bonds CUSIP: 345370DB3 (5.578% YTW, 4.965% iYTW)... -
November 5, 2025
Featured Top Idea
DFH – Dream Finders Homes Inc.Action: Buy 2028 3.875% Bonds CUSIP: 682189AQ8 (7.054% YTW, 6.094% iYTW) Aggregate Credit Market and Credit Fundamental Review
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Since the Fed started communicating plans to aggressively raise rates in the face of inflationary pressures, the Fed has changed from a dovish benefit to cost to borrow, to a hawkish headwind. After the recent ~250bps rise in the risk-free rate from 2021 lows, aggregate corporate cost to borrow has risen to levels that are at the high end of the prior bull market. They are nowhere near levels that signal a freeze or panic but are high enough to put pressure on corporates borrowing for growth. The newly elevated cost to borrow for corporates may make refinancing decisions and growth investment decisions tougher. This is why it is important that corporations have such healthy financial statements currently.... -
November 3, 2025
UAA – Base Case CDS 320bps
Base Case iCDS 219bps, Negative Case iCDS 296bps, 2030 7.250% Bond YTW of 7.467%, iYTW of 5.787%
Ba3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
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October 29, 2025
Featured Top Idea
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HLX – Helix Energy Solutions Group
Action: Buy 2029 9.750% Bond CUSIP: 42330PAL1 (7.325% YTW, 6.215% iYTW)... -
October 28, 2025
DFH – Base Case iCDS 246bps,
Negative Case iCDS 692bps, 2030 6.875% Bond YTW of 7.054%, iYTW of 6.094%,
B1 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens,
Low Refinancing Need...
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October 27, 2025
HLX – Base Case iCDS 263bps,
Negative Case iCDS 456bps, 2029 9.750% Bond YTW of 7.325%, iYTW of 6.215%,
Ba3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
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October 22, 2025
Featured Top Idea
F – Ford Motor CompanyAction: Buy 2028 6.625% Bonds CUSIP: 345370BT6 (4.554% YTW, 4.439% iYTW)
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Buy 2030 9.625% Bonds CUSIP: 345370CX6 (5.014% YTW, 4.560% iYTW)
Buy 2031 7.450% Bonds CUSIP: 345370CA6 (5.214% YTW, 4.560% iYTW)
Buy 2032 3.250% Bonds CUSIP: 345370DA5 (5.554% YTW, 4.965% iYTW)
Buy 2032 6.100% Bonds CUSIP: 345370DB3 (5.578% YTW, 4.965% iYTW)...