Dexus Property Group (Dexus, Group) is an ASX listed real estate investment trust with a market capitalisation of AUD13bn. Originally listed on the ASX in 1984 with an affiliation to Deutsche Bank, the Group is an amalgamation of various trusts.

On 30 January 2020, Moody’s Investor Service (Moody’s) changed its outlook on natural gas pipeline operator, EQM Midstream Partners LP (EQM) to Negative. At the same time, Moody’s affirmed EQM’s corporate credit rating and the rating on the company’s senior unsecured notes.

We are only a month into the new year and already there have been a number of events that we classify as remarkable in nature, which will have long lasting effects on financial markets.

We provide an operational update for Lucas TCS ahead of the release of the company’s 2Q20 results which we expect to receive towards the end of February.

On 17 January 2020, S&P Global Ratings (S&P) downgraded its corporate rating on Rockpoint Gas Storage (Rockpoint, Company) by one notch. As a consequence, S&P also downgraded its issue rating on the Rockpoint's 7.00% notes due 2023. The downgrade primarily reflects implications of revised forecasts which result in Rockpoint’s expected leverage (debt/EBITDA) at or close to 6.0x over the coming two years. The weakness in credit metrics are the result of a number of factors including a dampened market and restrictive access conditions.

Summit Midstream Partners L.P. (SMLP, Company) is a growth-oriented limited partnership focused on developing, owning and operating midstream energy infrastructure assets that are strategically located in the core producing areas of unconventional resource basins, primarily shale formations, in the continental United States.

Summit Midstream Partners L.P. (SMLP, Company) is a growth-oriented limited partnership focused on developing, owning and operating midstream energy infrastructure assets that are strategically located in the core producing areas of unconventional resource basins, primarily shale formations, in the continental United States.

We initiate our recommendation on the WorkPac Trade Receivables Trust No.1 1 Class B notes.

Pioneer Credit announced in late December 2019 that it had resolved the funding issues that have been hampering its growth during the first half of FY20, providing a path to resumption of trading of its AUD40m notes.

Given the continued devastating impacts of the bushfires currently affecting the Eastern states of Australia, we are reviewing the impact of the main companies within our coverage in order to estimate any potential near-term pressures.

The January 2020 update to our DirectBond List including new additions and our current Trading Restrictions list.

SEEK Limited (SEEK, Company) is an ASX listed company specialising in matching job seekers with employment opportunities. Founded in 1997, SEEK launched its website in 1998, and listed on the ASX in 2005.

We revise our recommendation on Liberty’s 5.10% notes due 2020 and 5.10% notes due 2021

As the year draws to a close, it is time to take a look back at the strategy outlined at the beginning of the year and the events that have marked 2019.

SEEK Limited (‘‘SEEK’’) is a company incorporated in Australia and limited by shares. SEEK is listed on the ASX and as of today has market capitalisation of AUD7.8bn. SEEK is a diverse group of companies that has a unified purpose to help people live more fulfilling and productive working lives and to help organisations succeed.

StockCo reported consolidated NPAT of AUD3.7m in FY19...

StockCo reported consolidated NPAT of AUD3.7m in FY19...