Analysis

The Latest from Credit News

  • August 20, 2025
    Valens Credit Weekly Insights for August 20, 2025

    Featured Top Idea
    CRS – Carpenter Technology Corporation...

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  • August 6, 2025
    Valens Credit Weekly Insights for August 6, 2025

    Featured Top Idea
    UAA – Under Armour, Inc.
    Action: Buy 2030 7.250% Bonds CUSIP: 904311AD9 (6.947% YTW, 5.611% iYTW)...

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  • August 5, 2025
    MU – Base Case CDS 57bps, Base Case iCDS 23bps, Negative Case iCDS 30bps, 2029 6.750% Bond YTW of 4.701%, iYTW of 4.201%, Baa3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens, Low Refinancing Need

    MU – Base Case CDS 57bps, Base Case iCDS 23bps,

    Negative Case iCDS 30bps, 2029 6.750% Bond YTW of 4.701%, iYTW of 4.201%,

    Baa3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,

    Low Refinancing Need...

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  • July 28, 2025
    HLX – Base Case iCDS 258bps, Negative Case iCDS 334bps, 2029 9.750% Bond YTW of 7.641%, iYTW of 6.422%, Ba3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens, Low Refinancing Need

    HLX – Base Case iCDS 258bps,

    Negative Case iCDS 334bps, 2029 9.750% Bond YTW of 7.641%,

    iYTW of 6.422%, Ba3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,

    Low Refinancing Need

     ...

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  • July 23, 2025
    Valens Credit Weekly Insights for July 23, 2025

    Featured Top Idea
    XYZ – Block, Inc.

    Action: Buy 2031 3.500% Bonds CUSIP: 852234AM5 (5.391% YTW, 4.756% iYTW)...

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  • July 23, 2025
    Valens Credit Weekly Insights for July 30, 2025

    Featured Top Idea
    SWKS – Skyworks Solutions Inc.

    Action: Buy 2031 3.500% Bonds CUSIP: 852234AM5 (5.391% YTW, 4.756% iYTW)...

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  • July 18, 2025
    F – Base Case iCDS 96bps, Negative Case iCDS 181bps, 2031 7.450% Bond YTW of 5.791%, iYTW of 4.994%, Ba1 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens, Low Refinancing Need

    F – Base Case iCDS 96bps, Negative Case iCDS 181bps

    2031 7.450% Bond YTW of 5.791%, iYTW of 4.994%

    Ba1 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens

    Low Refinancing Need...

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  • July 17, 2025
    SWKS – Base Case iCDS 75bps, Negative Case iCDS 104bps, 2031 3.000% Bond YTW of 5.385%, iYTW of 4.734%, Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens, Low Refinancing Need

    SWKS – Base Case iCDS 75bps,

    Negative Case iCDS 104bps, 2031 3.000% Bond YTW of 5.385%, iYTW of 4.734%,

    Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,

    Low Refinancing Need...

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  • July 17, 2025
    UAA – Base Case CDS 269bps, Base Case iCDS 168bps, Negative Case iCDS 224bps, 2030 7.250% Bond YTW of 6.947%, iYTW of 5.611%, Ba3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens, Low Refinancing Need

    UAA – Base Case CDS 269bps, Base Case iCDS 168bps,

    Negative Case iCDS 224bps, 2030 7.250% Bond YTW of 6.947%, iYTW of 5.611%,

    Ba3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,

    Low Refinancing Need...

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  • July 16, 2025
    Valens Credit Weekly Insights for July 16, 2025

    Featured Top Idea
    MUR – Murphy Oil Corporation
    Action: Close Trade: 2028 6.375% Bonds CUSIP: 626717AN2
    2029 7.050% Bonds CUSIP: 626717AA0...

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  • July 11, 2025
    MUR – Base Case iCDS 212bps, Negative Case iCDS 322bps, 2029 7.050% Bond YTW of 6.132%, iYTW of 6.081%, Ba2 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens, Low Refinancing Need

    MUR – Base Case iCDS 212bps,

    Negative Case iCDS 322bps, 2029 7.050% Bond YTW of 6.132%,

    iYTW of 6.081%, Ba2 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,

    Low Refinancing Need

     ...

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  • July 9, 2025
    Valens Credit Weekly Insights for July 9, 2025

    Featured Top Idea
    NRG – NRG Energy Inc.

    Action: Buy 2028 5.750% Bonds CUSIP: 629377CE0 (5.153% YTW, 4.219% iYTW)
    Buy 2029 3.375% Bonds CUSIP: 629377CQ3 (5.411% YTW, 4.292% iYTW)
    Buy 2029 5.250% Bonds CUSIP: 629377CH3 (5.619% YTW, 4.292% iYTW)
    Buy 2031 3.625% Bonds CUSIP: 629377CR1 (5.496% YTW, 4.292% iYTW)

     ...

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  • July 2, 2025
    Valens Credit Weekly Insights for June 25, 2025

    Featured Top Idea
    CRWD – CrowdStrike Holdings, Inc.

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  • June 23, 2025
    NRG – CDS 90bps, iCDS 28bps, Negative Case iCDS 41bps, 2028 5.750% Bond YTW of 5.153%, iYTW of 4.219%, Ba1 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens, Low Refinancing Need

    NRG – CDS 90bps, iCDS 28bps,

    Negative Case iCDS 41bps, 2028 5.750% Bond YTW of 5.153%, iYTW of 4.219%,

    Ba1 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens,

    Low Refinancing Need...

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  • June 23, 2025
    XYZ – Base Case iCDS 71bps, Negative Case iCDS 100bps, 2031 3.500% Bond YTW of 5.391%, iYTW of 4.756%, Ba2 Rating from Moody’s, IG3+ (equivalent to A1) Rating from Valens, Low Refinancing Need

    XYZ – Base Case iCDS 71bps,

    Negative Case iCDS 100bps, 2031 3.500% Bond YTW of 5.391%, iYTW of 4.756%,

    Ba2 Rating from Moody’s, IG3+ (equivalent to A1) Rating from Valens,

    Low Refinancing Need...

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  • June 18, 2025
    Valens Credit Weekly Insights for June 18, 2025

    Featured Top Idea
    ON – ON Semiconductor Corporation

    • Action: Buy 2029 3.000% Bonds CUSIP: 22788CAA3 (5.037% YTW, 4.348% iYTW)
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  • June 18, 2025
    Valens Credit Weekly Insights for June 25, 2025

    Featured Top Idea
    AMCX – AMC Networks Inc.

    Action: Buy 2029 4.250% Bonds CUSIP: 00164VAF0 (12.342% YTW, 10.567% iYTW)

     ...

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  • June 17, 2025
    BRBR – Base Case iCDS 105bps, Negative Case iCDS 167bps, 2030 7.000% Bond YTW of 5.780%, iYTW of 5.058%, B1 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens, Low Refinancing Need

    BRBR – Base Case iCDS 105bps

    Negative Case iCDS 167bps, 2030 7.000% Bond YTW of 5.780%, iYTW of 5.058%

    B1 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens

    Low Refinancing Need...

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  • June 13, 2025
    CRWD – Base Case iCDS 25bps, Negative Case iCDS 81bps, 2029 3.000% Bond YTW of 5.037%, iYTW of 4.348%, Baa3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens, Low Refinancing Need

    CRWD – Base Case iCDS 25bps

    Negative Case iCDS 81bps, 2029 3.000% Bond YTW of 5.037%, iYTW of 4.348%

    Baa3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens

    Low Refinancing Need...

    Read More

  • June 11, 2025
    Valens Credit Weekly Insights for June 11, 2025

    Featured Top Idea
    WMS – Advanced Drainage Systems, Inc.

    • Action: Buy 2028 3.875% Bonds CUSIP: 682189AQ8 (5.581% YTW, 4.600% iYTW)
    Read More

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    Action: Buy 2030 6.375% Bonds CUSIP: 00790RAB0 (5.840% YTW, 5.045% iYTW)