On 11 February 2020, independent power producer, Zenith Energy Ltd (Zenith), released robust first half (1H20) results for the period ended 31 December 2019. For 1H20, Zenith reported revenues of AUD29.4m, a 28.4% increase from 1H19, and a very strong EBITDA figure of AUD14.8m (up 74.1% from the prior corresponding period).

Firstmac is a non-bank residential mortgage originator with a national presence and has been in operation since 1988.

On 7 February 2020, Merredin Energy Ltd (Merredin, Company) released its results for the quarter (2Q20) and half year (1H20) ended 31 December 2019.

There have been many events already in calendar year 2020 that would ordinarily be considered significant for a single year, with the current coronavirus bringing back memories of SARS in 2003.

On 5 February 2020, the world’s largest private-sector coal company, Peabody Energy Company (Peabody, Company) announced its fourth quarter (4Q19) and full year (FY19) results for the period ended 31 December 2019. Peabody reported revenues of USD1.12bn in 4Q19, down from the prior corresponding period (pcp), mainly due to lower seaborne metallurgical (met) coal volumes. For the same reason, Peabody reported significantly lower revenues and EBITDA versus FY18, coming in at USD4.62bn and USD837m, respectively.

In recent weeks, we have experienced a wave of news articles reporting the outbreak of a previously unknown virus, Novel Coronavirus (Coronavirus). The virus originated in Wuhan, located in the Hubei province of China. The first case was detected on 12 December 2019.

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.