Fixed Income Analysis /

Daily Credit Briefing

    Sven Kreitmair
    Sven Kreitmair

    Head of Credit Research

    Gianfranco Arcovito
    Christian Aust
    Michael Teig
    14 April 2021
    Published by

    Top Credit Stories Alrosa (ALRSRU) - Strong diamond sales in March Amplifon (AMPIM) - S&P revises outlook to stable from negative - no surprise Covestro (COVEGR) - Raises full-year outlook EP Infrastructure (ENAPHO) - Earnings decline partly explained by gas frontloading in 2019 EU Banks - ECB publishes 4Q20 supervisory banking statistics Evraz (EVRAZ) - S&P improves outlook to stable, reconfirms BB+ rating Hella (HELLA) - 9M20/21 adjusted gross leverage down to 2.9x from 3.1x qoq Hochtief (HOTGR) - ACS weighing spinoff of construction business Jaguar Land Rover (JAGLN) - Reports GBP 600mn in increased cash in 4Q20/21 and extends GBP 1.31bn of its GBP 1.9bn RCF to March 2024 Metinvest (METINV) - Fitch improves outlook to stable, confirms BB- NLMK (NLMKRU) - Weak 1Q21 sales, but stronger steel prices should boost EBITDA SAP (SAPGR) - Pre-releases strong 1Q21 top-line figures