Daily Brief Credit: IDEX Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report and more

• IDEX Corporation is an industrial giant and is often in the news for its acquisition-led growth moves.
• The company’s recent financial performance has been strong with double-digit growth in organic sales across its three segments: Fluid & Metering Technologies, Health & Science Technologies, and Fire & Safety/Diversified Products.
• IDEX’s overall backlog positions remain strong though its operating margin has negatively impacted by incremental depreciation from recent acquisitions.

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

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• AutoZone is one of the largest players in the distribution of automotive replacement parts and accessories in the U.S.
• The company has been delivering a decent set of results in recent times after the impact of the pandemic has gone down.
• However, its domestic, commercial sales make up 30% of its domestic auto parts sales.

• Newmont Corporation is among the global leaders in the exploration and production of gold.
• They are also stepping up development operations in Subika Underground and achieved record production drill meters while advancing the mine’s third production level’s development.
• The arrival of a second underground production drill might help deliver the fourth quarter’s anticipated development and the ensuing ore tonnes in 2023.