Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

High Yield Experts

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

Credit

We view China Vanke as "Low Risk" on the LARA scale, given the company's: [1] leading market position in terms of sales and branding; [2] sound financial profile; and [3] diversified geographical coverage. Vanke is transitioning to become a more diversified company, with increased exposure outside the residential project sector and higher participation in the "Rail+Property" development model. Furthermore, the company is able to acquire land at lower cost amid the current bleak environment, and has lower financing costs due to its ties to the state. Our fundamental Credit Bias on Vanke is "Stable", given its adequate liquidity and sound credit metrics. We expect the company to have good access to funding, thanks to its status as a state-owned enterprise. That said, negative sentiment in the industry could weigh on Vanke's performance.

 We view China Vanke as "Low Risk" on the LARA scale, given the company's: [1] leading market position in terms of sales and branding; [2] sound financial profile; and [3] diversified geographical coverage. Vanke is transitioning to become a more diversified company, with increased exposure outside the residential project sector and higher participation in the "Rail+Property" development model. Furthermore, the company is able to acquire land at lower cost amid the current bleak environment, and has lower financing costs due to its ties to the state.  Our fundamental Credit Bias on Vanke is "Stable", given its adequate liquidity and sound credit metrics. We expect the company to have good access to funding, thanks to its status as a state-owned enterprise. That said, negative sentiment in the industry could weigh on Vanke's performance.

China Vanke - Tear Sheet - Lucror Analytics