Analysis

The Latest from Credit News

  • 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...

    Read More

  • 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)
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  • June 9, 2025
    This “Marvel” founded a multibillion company in the wake of the dot-com bubble. Here are his secrets to success!

    AMCX – Base Case iCDS 660bps

    Negative Case iCDS 741bps, 2029 4.250% Bond YTW of 12.342%, iYTW of 10.567%

    B2 Rating from Moody’s, XO (equivalent to Baa3) Rating from Valens

    Moderate Refinancing Need...

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  • June 4, 2025
    Valens Credit Weekly Insights for June 4, 2025

    Featured Top Idea
    MU – Micron Technology, Inc.
    Action: Buy 2029 6.750% Bonds CUSIP: 595112BV4 (5.120% YTW, 4.253% iYTW)
    Buy 2030 4.663% Bonds CUSIP: 595112BQ5 (5.182% YTW, 4.372% iYTW)
    Buy 2031 5.300% Bonds CUSIP: 595112CD3 (5.286% YTW, 4.372% iYTW)...

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  • June 2, 2025
    WMS – Base Case iCDS 107bps, Negative Case iCDS 128bps, 2030 6.375% Bond YTW of 5.840%, iYTW of 5.045%, Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens, Low Refinancing Need

    ON – Base Case iCDS 65bps

    Negative Case iCDS 92bps 2028 3.875% Bond YTW of 5.581%, iYTW of 4.600%

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

    Low Refinancing Need...

    Read More

  • May 28, 2025
    Valens Credit Weekly Insights for May 28, 2025

    Featured Top Idea
    CRS – Carpenter Technology Corporation

    Action: Buy 2030 7.625% Bonds CUSIP: 144285AM5 (5.816% YTW, 4.759% iYTW)...

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  • May 23, 2025
    AR – Base Case CDS 112bps, Base Case iCDS 90bps, Negative Case iCDS 98bps, 2029 7.625% Bond YTW of 5.640%, iYTW of 4.875%, Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens, Low Refinancing Need

    AR – Base Case CDS 112bps, Base Case iCDS 90bps

    Negative Case iCDS 98bps, 2029 7.625% Bond YTW of 5.640%, iYTW of 4.875%

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

    Low Refinancing Need...

    Read More

  • May 23, 2025
    WMS – Base Case iCDS 107bps, Negative Case iCDS 128bps, 2030 6.375% Bond YTW of 5.840%, iYTW of 5.045%, Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens, Low Refinancing Need

    WMS – Base Case iCDS 107bps

    Negative Case iCDS 128bps, 2030 6.375% Bond YTW of 5.840%, iYTW of 5.045%

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

    Low Refinancing Need...

    Read More

  • May 21, 2025
    Valens Credit Weekly Insights for May 21, 2025

    Featured Top Idea
    SWKS – Skyworks Solutions, Inc.

    Action: Buy 2031 3.000% Bonds, CUSIP: 83088MAL6 (6.455% YTW, 4.891% iYTW)...

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  • May 20, 2025
    MU – Base Case CDS 82bps, Base Case iCDS 26bps, Negative Case iCDS 40bps, 2029 6.750% Bond YTW of 5.120%, iYTW of 4.253%, Baa3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens, Low Refinancing Need

    MU – Base Case CDS 82bps, Base Case iCDS 26bps

    Negative Case iCDS 40bps, 2029 6.750% Bond YTW of 5.120%, iYTW of 4.253%

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

    Low Refinancing Need...

    Read More

  • May 14, 2025
    Valens Credit Weekly Insights for May 14, 2025

    Featured Top Idea
    CIEN – Ciena Corporation
    Action: Buy 2030 4.000% Bonds, CUSIP: 171779AL5 (5.820% YTW, 4.990% iYTW)...

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  • May 9, 2025
    CRS – CDS 156bps, iCDS 92bps, Negative Case iCDS 133bps, 2030 7.625% Bond YTW of 5.816%, iYTW of 4.759%, Ba3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens, Low Refinancing Need

    CRS – CDS 156bps, iCDS 92bps,

    Negative Case iCDS 133bps, 2030 7.625% Bond YTW of 5.816%, iYTW of 4.759%,

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

    Low Refinancing Need...

    Read More

  • May 7, 2025
    Valens Credit Weekly Insights for May 7, 2025

    Featured Top Idea
    NRG – NRG Energy Inc

    Action: Buy 2028 5.750% Bonds CUSIP: 629377CE0 (5.849% YTW, 4.322% iYTW)

    Buy 2029 3.375% Bonds CUSIP: 629377CQ3 (5.711% YTW, 4.309% iYTW)

    Buy 2029 5.250% Bonds CUSIP: 629377CH3 (5.856%YTW, 4.309% iYTW)

    Buy 2031 3.625% Bonds CUSIP: 629377CR1 (5.886% YTW, 4.309% iYTW)...

    Read More

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