Featured Top Idea
MTDR – Matador Resources Company
Action: Trade: Buy 2026 5.875% Bonds CUSIP: 576485AE6 (5.223% YTW, 4.043% iYTW)...
The Latest from Credit News
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August 10, 2022
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August 9, 2022
SITC – Base Case CDS 191bps, Base Case iCDS 312bps,
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Negative Case iCDS 356bps, 2027 4.700% Bond YTW of 4.823%,
iYTW of 5.793%, Baa3 Rating from Moody’s, HY2 (equivalent to B2) Rating from Valens,
High Refinancing Need... -
August 5, 2022
MTDR – Traded Base Case iCDS 133bps
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Negative Case iCDS 189bps, 2026 5.875% Bond YTW of 5.223%
iYTW of 4.043%, B1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need... -
August 3, 2022
MU – Base Case CDS 123bps, Base Case iCDS 41bps
Negative Case iCDS 81bps, 2027 4.185% Bond YTW of 4.524%, iYTW of 3.306%
Baa3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
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August 3, 2022
Featured Top Idea
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SQ – Square, Inc.
Action: Trade: Buy 2026 2.750% Bonds CUSIP: 852234AL7 (5.382% YTW, 3.522% iYTW)... -
August 1, 2022
FLR – Traded CDS 298bps, Base Case iCDS 188bps
Negative Case iCDS 296bps, 2028 4.250% Bond YTW of 6.596%, iYTW of 4.931%
Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
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July 27, 2022
Featured Top Idea
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MTCH – Match Group, Inc.
Action: Trade: Buy 2027 5.000% Bonds CUSIP: 57665RAG1 (6.496% YTW, 4.356% iYTW)
Trade: Buy 2028 4.625% Bonds CUSIP: 57665RAN6 (6.385% YTW, 4.625% iYTW)... -
July 26, 2022
SQ – No Traded CDS, Base Case iCDS 62bps
Negative Case iCDS 113bps, 2026 2.750% Bond YTW of 5.382%, iYTW of 3.522%
Ba2 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
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July 26, 2022
UAA – Traded CDS 357bps, Base Case iCDS 131bps
Negative Case iCDS 197bps, 2026 3.250% Bond YTW of 6.812%, iYTW of 4.319%
Ba2 Rating from Moody’s, IG4+ (equivalent to Baa2) Rating from Valens
Low Refinancing Need...
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July 22, 2022
MTCH – Traded CDS 245bps, Base Case iCDS 128bps
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Negative Case iCDS 208bps, 2027 5.000% Bond YTW of 6.496%
iYTW of 4.356%, Ba2 Rating from Moody’s, IG3 (equivalent to A2) Rating from Valens
Low Refinancing Need... -
July 20, 2022
X – Traded CDS 709bps, Base Case iCDS 223bps
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Negative Case iCDS 373bps, 2029 6.875% Bond YTW of 9.266%
iYTW of 5.184%, Ba3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need... -
July 20, 2022
Featured Top Idea
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MUR – Murphy Oil Corporation
Action: Buy 2025 5.750% Bonds, CUSIP: 626717AJ1 (6.382% YTW, 4.582% iYTW)
Buy 2027 5.875% Bonds, CUSIP: 626717AM4 (7.628% YTW, 4.458% iYTW)
Buy 2028 6.375% Bonds, CUSIP: 626717AN2 (8.028% YTW, 4.449% iYTW)... -
July 18, 2022
MUR –Traded CDS 481bps, Base Case iCDS 144bps
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Negative Case iCDS 263bps, 2027 5.875% Bond YTW of 7.628%, iYTW of 4.458%
Ba2 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need... -
July 13, 2022
Featured Top Idea
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MOH – Molina Healthcare, Inc.
Action: Buy 2028 4.375% Bonds CUSIP: 60855RAJ9 (6.241% YTW, 3.941% iYTW)... -
July 12, 2022
MOH – Traded CDS 279bps, Base Case iCDS 100bps
Negative Case iCDS 168bps, 2028 4.375% Bond YTW of 6.241%, iYTW of 3.941%
Ba3 Rating from Moody’s, IG3+ (equivalent to A1) Rating from Valens
Low Refinancing Need...
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July 6, 2022
Featured Top Idea
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PDCE – PDC Energy, Inc.
Action: Buy 2026 5.750% Bonds, CUSIP:69327RAJ0 (7.390% YTW, 4.740% iYTW)... -
June 29, 2022
Featured Top Idea
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TRIP – Tripadvisor, Inc.
Action: Buy 2025 7.000% Bonds, CUSIP: 896945AAO(8.066% YTW, 4.696% iYTW)... -
June 27, 2022
TRIP – No Traded CDS, Base Case iCDS 134bps
Negative Case iCDS 188bps, 2025 7.000% Bond YTW of 8.066%
iYTW of 4.696%, B1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
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June 22, 2022
Featured Top Idea
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HOLX – Hologic, Inc.
Action: Buy 2028 4.625% Bonds, CUSIP: 436440AM3 (5.919% YTW, 4.769% iYTW)
Buy 2029 3.250% Bonds, CUSIP: 436440AP6 (6.213% YTW, 4.933% iYTW)...
