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  • Next Generation Clubs (NextGen) FY19 Results

    Feb 19, 2020
    We provide an update on Next Generation following FY19 results and commencement of construction at Doncaster.
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  • Lucas 1H20 Update

    Feb 17, 2020
    We provide an update to noteholders following the release of Lucas’ 2Q20 results.
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  • New Issue Alert – Liberty Financial Senior Unsecured

    Feb 17, 2020
    Liberty has mandated Deutsche Bank, NAB and Westpac for a potential 4-year AUD $200m floating rate note.
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  • Mercer FY19 Results

    Feb 14, 2020
    On 14 February 2020, Mercer International (Mercer, Company) announced FY19 results. Results were mixed, with the Company reporting growth in revenues. However, increased maintenance downtime and higher operating costs led to sharp declines in EBITDA and a net loss for FY19. While liquidity remains sound, Mercer reported softer credit metrics.
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  • AMP FY19 Results

    Feb 14, 2020
    On 13 February 2020, AMP Limited (AMP, Company) reported its full-year results for the year-ended 31 December 2019 (FY19). The Company reported a headline net loss after tax of AUD2.5bn, stemmed from a predominantly non-cash impairment of AUD2.4bn previously announced.
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  • Centuria Capital Group 1H20 Results

    Feb 13, 2020
    On 12 February 2020, Centuria Capital Group (Centuria, Group) announced its 1H20 results. Results were relatively stronger, representing significant growth in Centuria's assets under management. While reducing debt, the Group also recorded growth in revenues, net operating profit and cash flow from operations. Centuria also announced it had entered into an agreement to acquire a real estate funds management company in New Zealand.
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  • Geo Group FY19 Results

    Feb 13, 2020
    On 13 February 2020, The Geo Group Inc (GEO, Company) announced FY19 results for the 12 months ended 31 December 2019. Despite headwinds in the form of political scrutiny and reduced support from financial institutions, results were sound. GEO reported revenue growth whilst improving its credit metrics. Additionally, the Company entered into new contracts with government departments whilst broadly maintaining the number of revenue generating beds.
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  • New Issue Alert - GPT RE Limited Senior Unsecured Bond

    Feb 12, 2020
    GPT RE Limited operates as a real estate investment trust. The Company owns and manages a portfolio of offices, logistics, business parks, and shopping centres. The company was incorporated in 2003 and is based in Sydney, Australia.
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  • Zenith Energy 1H20 Results

    Feb 12, 2020
    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).
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  • Firstmac 2019-4 Class C Notes

    Feb 11, 2020
    Firstmac is a non-bank residential mortgage originator with a national presence and has been in operation since 1988.
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  • Merredin Energy 1H20 Update

    Feb 10, 2020
    On 7 February 2020, Merredin Energy Ltd (Merredin, Company) released its results for the quarter (2Q20) and half year (1H20) ended 31 December 2019.
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  • Lower yields - where is the value?

    Feb 07, 2020
    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.
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  • Peabody 4Q19 and full year results

    Feb 07, 2020
    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.
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  • Coronavirus Update - January 2020

    Feb 05, 2020
    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.
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  • Dexus Finance Pty Limited AUD 3.00% 3-Feb-32 Senior Unsecured Notes Factsheet

    Feb 03, 2020
    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.
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  • EQM Midstream Partners Update - January 2020

    Feb 03, 2020
    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.
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  • 2020 – an eventful year to come?

    Jan 31, 2020
    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.
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  • Lucas Total Contract Solutions - January 2020

    Jan 23, 2020
    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.
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  • Rockpoint Gas Storage Downgrade

    Jan 21, 2020
    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.
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  • Summit Midstream Partners USD 5.50% Aug 2022 Senior Unsecured Notes factsheet

    Jan 16, 2020
    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.
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