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TEX – Traded CDS 172bps, Base Case iCDS 209bps, Negative Case 380bps, 2029 5.000% Bond YTW of 5.703%, iYTW of 5.759%, Ba2 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens, Low Refinancing Need

September 5, 2024

  • Following the firm’s acquisition of Environmental Solutions Group, credit markets are accurately stating TEX’s credit risk with a YTW of 5.703% and a CDS of 172bps relative to an Intrinsic YTW of 5.759% and an Intrinsic CDS of 209bps.

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