Valens Credit Weekly Insights for May 22, 2019
Highlighted Top Ideas FCX – Freeport-McMoRan Inc., LEN – Lennar Corporation, URI – United Rentals, Inc.
The Latest from Credit News
Monday, May 27, 2019
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credit | May 23, 2019
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credit | May 16, 2019
Valens Credit Weekly Insights for May 16, 2019
Highlighted Top Ideas CVS – CVS Health Corporation, LEE – Lee Enterprises, Incorporated, RAD – Rite Aid Corporation
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credit | May 10, 2019
RAD Valens Credit Analysis – CDS 1404bps, Base Case iCDS 523bps, Negative Case iCDS 1111bps, 2023 6.125% Bond YTW of 10.860%, iYTW of 7.470%, B3 Rating from Moody’s, XO (equivalent to Baa3) Rating from Valens, High Refinancing Need
–CDS 1404bps, Base Case iCDS 523bps–Negative Case iCDS 1111bps, 2023 6.125% Bond YTW of 10.860%, iYTW of 7.470%–B3 Rating from Moody’s, XO (equivalent to Baa3) Rating from Valens–High Refinancing Need -
article | May 9, 2019
Valens Credit Weekly Insights for May 8, 2019
Highlighted Top Ideas AMD – Advanced Micro Devices, Inc., BBY – Best Buy Co., Inc., SUM – Summit Materials, Inc.
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credit | May 2, 2019
Valens Credit Weekly Insights for May 1, 2019
Highlighted Top Ideas AER – AerCap Holdings N.V., JCP – J. C. Penney Company, Inc., UIS – Unisys Corporation
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credit | April 30, 2019
AMD Valens Credit Analysis – CDS 93bps, Base Case iCDS 66bps, Negative Case iCDS 126bps, 2024 7.000% Bond YTW of 3.119%, iYTW of 3.079%, Ba3 Rating from Moody’s, IG3+ (equivalent to A1) Rating from Valens, Low Refinancing Need
–CDS 93bps, Base Case iCDS 66bps–Negative Case iCDS 126bps, 2024 7.000% Bond YTW of 3.119%, iYTW of 3.079%–Ba3 Rating from Moody’s, IG3+ (equivalent to A1) Rating from Valens–Low Refinancing Need -
credit | April 26, 2019
AER Valens Credit Analysis – CDS 84bps, Base Case iCDS 258bps, Negative Case iCDS 368bps, 2024 4.875% Bond YTW of 3.825%, iYTW of 4.995%, BBB- Rating from S&P, HY2 (equivalent to B) Rating from Valens, High Refinancing Need
–CDS 84bps, Base Case iCDS 258bps–Negative Case iCDS 368bps, 2024 4.875% Bond YTW of 3.825%, iYTW of 4.995%–BBB- Rating from S&P, HY2 (equivalent to B) Rating from Valens–High Refinancing Need -
credit | April 25, 2019
Valens Credit Weekly Insights for April 24, 2019
Highlighted Top Ideas BZH – Beazer Homes USA, Inc., DF – Dean Foods Company, DNR – Denbury Resources Inc.
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credit | April 18, 2019
Valens Credit Weekly Insights for April 17, 2019
Highlighted Top Ideas AVP – Avon Products, Inc., DISH – DISH Network Corporation, TWTR – Twitter, Inc. Other Recent OC – Owens Corning, AMKR – Amkor Technology, Inc.
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credit | April 17, 2019
BZH Valens Credit Analysis – CDS 394bps, Base Case iCDS 644bps, Negative Case iCDS 857bps, 2025 6.750% Bond YTW of 7.763%, iYTW of 8.853%, B3 Rating from Moody’s, XO (equivalent to Baa3) Rating from Valens, High Refinancing Need
–CDS 394bps, Base Case iCDS 644bps–Negative Case iCDS 857bps, 2025 6.750% Bond YTW of 7.763%, iYTW of 8.853%–B3 Rating from Moody’s, XO (equivalent to Baa3) Rating from Valens–High Refinancing Need -
credit | April 10, 2019
Valens Credit Weekly Insights for April 10, 2019
Highlighted Top Ideas AN – AutoNation, Inc., CVI – CVR Energy, Inc., RIG – Transocean Ltd., Other Recent Analyses MGM – MGM Resorts International, WYND – Wyndham Destinations, Inc.
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credit | April 4, 2019
Valens Credit Weekly Insights for April 3, 2019
Highlighted Top Ideas AMAG – AMAG Pharmaceuticals, Inc. DBD – Diebold Nixdorf, Incorporated HCA – HCA Healthcare, Inc. Other Recent Analyses ADNT – Adient plc RYI – Ryerson Holding Corporation
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credit | March 28, 2019
Valens Credit Weekly Insights for March 27, 2019
Highlighted Top Ideas BLDR – Builders FirstSource, Inc. DAL – Delta Air Lines, Inc. R – Ryder System, Inc. Other Recent Analyses CHK– Chesapeake Energy Corporation CYH– Community Health Systems, Inc.
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credit | March 26, 2019
ADNT Valens Credit Analysis – No Traded CDS, Base Case iCDS 267bps, Negative Case iCDS 942bps, 2024 3.500% Bond YTW of 9.430%, iYTW of 2.780%, B2 Rating from Moody’s, HY1 (equivalent to Ba2) Rating from Valens, Moderate Refinancing Need
–No Traded CDS, Base Case iCDS 267bps–Negative Case iCDS 942bps, 2024 3.500% Bond YTW of 9.430%, iYTW of 2.780%–B2 Rating from Moody’s, HY1 (equivalent to Ba2) Rating from Valens–Moderate Refinancing Need -
article | March 21, 2019
Valens Credit Weekly Insights for March 20, 2019
Highlighted Top Ideas
BHC – Bausch Health Companies Inc.
GT – The Goodyear Tire & Rubber Company
TMUS – T-Mobile US, Inc.Other Recent Analyses
TDG – TransDigm Group Incorporated
CCI – Crown Castle International Corp. -
equities | March 13, 2019
Valens Credit Weekly Insights for March 13, 2019
Highlighted Top Ideas
EXPE – Expedia Group, Inc. 4
AXL – American Axle & Manufacturing Holdings, Inc. 5
X – United States Steel CorporationOther Recent Analyses
UVV – Universal Corporation
MTW – The Manitowoc Company, Inc. -
equities | March 7, 2019
Valens Credit Weekly Insights for March 6, 2019
Highlighted Top Ideas
GM – General Motors Company
MTOR – Meritor, Inc.
WRK – WestRock CompanyOther Recent Analyses
GME – GameStop Corp.
NAV – Navistar International Corporation -
credit | February 27, 2019
Valens Credit Weekly Insights for February 27, 2019
Highlighted Top Ideas
LEN – Lennar Corporation
KBH – KB Home.
YRCW – YRC Worldwide Inc.Other Recent Analyses
URI – United Rentals, Inc.
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article | February 21, 2019
Valens Credit Weekly Insights for February 20, 2019
Highlighted Top Ideas
AKS – AK Steel Holding Corporation
FCX – Freeport-McMoRan Inc.
UHS – Universal Health Services, Inc.Other Recent Analyses
GPS – The Gap, Inc.
LB – L Brands, Inc.
BHC – Bausch Health Companies Inc. -
credit | February 14, 2019
Valens Credit Weekly Insights for February 13, 2019
Highlighted Top Ideas
AL – Air Lease Corporation
HTZ – Hertz Global Holdings, Inc.
UNT – Unit CorporationOther Recent Analyses
CVS – CVS Health Corporation
