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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
BASIC INDUSTRIES
- Brenntag reported earlier https://marketnews.com/brenntag-baa2-bbb-1q24-results
- Equity is getting hit on the miss and lowered guidance. The results demonstrate cyclicality and lack of pricing power.
- Spreads are 3-4 wider today. Levels already reflect some negativity on the name, at the wide end of mid triple B peers alongside US names ALB and WLK. Recent dual tranche did not trade in to secondary (older deals, low coupon).
- Results are a reminder that this name would be vulnerable in another downturn, but no immediate rating action is expected.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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