September 03, 2024 10:44 GMT
CREDIT SUPPLY: DWR Cymru (A3/A-/A): New Issue FV
CREDIT SUPPLY
- GBP Benchmark 20Y Sust. Fixed UKT+155-160.
- We see FV at Z+190 / UKT+125a.
- Our FV is slightly inside the UU curve (A3/BBB+/A-).
- Recent £ water deals have come at a discount following the Thames Water situation.
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