Analysis

The Latest from Credit News


December 2, 2019
AKS Valens Credit Analysis – CDS 968bps, Base Case iCDS 564bps, Negative Case iCDS 2,412bps, 2025 6.375% Bond YTW of 10.100%, iYTW of 7.270%, B2 Rating from Moody’s, HY1 (equivalent to Ba2) Rating from Valens, Moderate Refinancing Need

– CDS 968bps, Base Case iCDS 564bps

– Negative Case iCDS 2,412bps, 2025 6.375% Bond YTW of 10.100%, iYTW of 7.270%

– B2 Rating from Moody’s, HY1 (equivalent to Ba2) Rating from Valens

– Moderate Refinancing Need

November 20, 2019
Valens Credit Weekly Insights for November 20, 2019

Highlighted Top: CSTM – Constellium SE, GT – The Goodyear Tire & Rubber Company, URI – United Rentals, Inc.

November 13, 2019
Valens Credit Weekly Insights for November 13, 2019

Highlighted Top: AL – Air Lease Corporation, LEN – Lennar Corporation, RAD – Rite Aid Corporation

November 8, 2019
RAD Valens Credit Analysis – CDS 1,312bps, Base Case iCDS 576bps, Negative Case iCDS 1,201bps, 2023 6.125% Bond YTW of 11.160%, iYTW of 7.360%, Caa1 Rating from Moody’s, XO (equivalent to Baa3) Rating from Valens, High Refinancing Need

– CDS 1,312bps, Base Case iCDS 576bps

– Negative Case iCDS 1,201bps, 2023 6.125% Bond YTW of 11.160%, iYTW of 7.360%

– Caa1 Rating from Moody’s, XO (equivalent to Baa3) Rating from Valens

– High Refinancing Need

November 6, 2019
Valens Credit Weekly Insights for November 6, 2019

Highlighted Top: BBY – Best Buy Co., Inc., GME – GameStop Corp., LB – L Brands, Inc.

October 30, 2019
Valens Credit Weekly Insights for October 30, 2019

Highlighted Top: DF – Dean Foods Company, DOOR – Masonite International Corporation, SUM – Summit Materials, Inc.

October 23, 2019
Valens Credit Weekly Insights for October 24, 2019

Highlighted Top: ADNT – Adient plc, AMAG – AMAG Pharmaceuticals, Inc., BZH – Beazer Homes USA, Inc.

October 16, 2019
Valens Credit Weekly Insights for October 16, 2019

Highlighted Top: GM – General Motors Company, MTW – The Manitowoc Company, Inc., X – United States Steel Corporation 

October 10, 2019
Valens Credit Weekly Insights for October 11, 2019

Highlighted Top: AXL– American Axle & Manufacturing Holdings, Inc., UNT – Unit Corporation, RFP – Resolute Forest Products Inc.

October 3, 2019
Valens Credit Weekly Insights for October 3, 2019

Highlighted Top: AER – AerCap Holdings N.V. , CAR – Avis Budget Group, Inc. , CVS – CVS Health Corporation 

September 26, 2019
Valens Credit Weekly Insights for September 25, 2019

Highlighted Top: AMD – Advanced Micro Devices, Inc., DISH – DISH Network Corporation, OC – Owens Corning 

September 19, 2019
Valens Credit Weekly Insights for September 18, 2019

Highlighted Top: AN – AutoNation, Inc., MGM – MGM Resorts International, RIG – Transocean Ltd.

September 12, 2019
Valens Credit Weekly Insights for September 11, 2019

Highlighted Top: HCA – HCA Healthcare, Inc., R – Ryder System, Inc., TMUS – T-Mobile US, Inc.

September 5, 2019
Valens Credit Weekly Insights for September 4, 2019

Highlighted Top: MCK – McKesson Corporation, MTOR – Meritor, Inc., SKT – Tanger Factory Outlet Centers, Inc.

August 29, 2019
Valens Credit Weekly Insights for August 28, 2019

Highlighted Top: CSTM – Constellium SE, FCX – Freeport-McMoRan Inc., MDR – McDermott International, Inc.