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Aug 20, 2019
We provide an update to noteholders on the progression of ongoing discussions with Lucas following our credit update dated 26 June 2019. Our recommendation on Lucas’ notes due 2022 remains unchanged.
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Aug 20, 2019
New issue alert - Westpac launches Tier 2 Subordinated Bond
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Aug 19, 2019
Merredin Energy reported 4Q19 and FY19 results were in line with our forecasts, reflecting the predictability of Merredin Energy’s cash flows. Revenues for the quarter and full year came in at AUD2.8m and AUD10.8m, respectively. Merredin Energy reported EBITDA of AUD2.2m in 4Q19 and AUD8.3m for FY19, both marginally ahead of our forecasts. We maintain our recommendation on Merredin Energy’s notes due 2022
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Aug 16, 2019
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Aug 15, 2019
On 15 August 2019, SYD reported robust first half results for the period ended 30 June 2019. Revenues for the period were AUD797.1m, a 3.4% increase on the prior corresponding period. EBITDA came in at AUD649.2m, a 4.1% increase on 1H18, primarily underpinned by in a 1.9% increase in international passenger numbers.
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Aug 15, 2019
Moody’s downgrade its rating on Frontier Communications. The outlook on the rating remains negative.
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Aug 14, 2019
On 6 August 2019, Dean Foods Company (Dean Foods, Company) announced soft 2Q19 results. Dean Foods reported accelerated declines in revenue, EBITDA and a net loss. Operational and industry headwinds continue to hamper the Company, which expects to be a net user of cash in FY19. We provide an update of Dean Foods' performance and the Company's prospects moving forward.
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Aug 14, 2019
In this inaugural report on the performance of the Residential Mortgage Backed Securities (RMBS) sector, we review the current characteristics of a large number of RMBS where our clients have exposure.
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Aug 11, 2019
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Aug 09, 2019
On 9 August 2019, Axsesstoday’s administrators provided an update on the sale process, which is expected to be completed on or before 13 September 2019. The update also provides some indication on the likely return for secured and unsecured creditors.
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Aug 09, 2019
On 8 August 2019, AMP released its 1H19 results. At the same time, it provided details of its new strategy, as well launching a fully-underwritten capital raising. It also announced the sale of its life insurance operations was to proceed on new terms. Although the overarching strategy is complex and execution risk is high, we believe the announcements yesterday are overall positive for the outlook for AMP’s continuing operations.
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Aug 08, 2019
Torrens 2019-1 Class C Notes Factsheet
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Aug 08, 2019
The Solactive FIIG Australian High Yield and Non-Rated Bond TR Index is a new index that allows investors to assess performance of the AUD high yield (HY) bond market.
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Aug 08, 2019
On 7 August 2019, gold mining company, IAMGOLD released its second quarter results. Revenue was down 11% on the corresponding prior period in 2018 due primarily to lower sales volumes. As at 30 June 2019, IAMGOLD continues to remain net debt free.
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Aug 07, 2019
On 6 August 2019, Oasis Petroleum reported solid quarterly results for the period ended 30 June 2019.
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Aug 06, 2019
Pioneer Credit Limited (Pioneer) is an ASX–listed financial services provider (ASX: PNC) with 180,000 customers across Australia and New Zealand. Pioneer specialises in acquiring and servicing unsecured retail debt portfolios (Purchased Debt Portfolios or PDPs), primarily from major banks and some regional banks.
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Aug 02, 2019
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Aug 02, 2019
On 31 July 2019, Mackay Sugar announced that the proposed acquisition of a 70% ownership stake in the company by Nordzucker had been completed.
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Aug 02, 2019
New DirectBond - Oasis Petroleum
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Aug 02, 2019
2019 year to date (YTD) performance of most bond and stock markets has been strong. So it is no surprise to note that US high yield bonds have had one of the best returns since 1987.
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