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Hochtief (BBB-): Credit Mover

BASIC INDUSTRIES
  • One of the best performers in IG Corps today, HOTGR 0.625 04/29 has tightening 14bp in just 2 sessions.
  • Currently 19bp tighter YTD, having lagged for the first 2 months.
  • Looks like something of a catch-up move. Equity has also recovered somewhat from the dip in January after the adverse court ruling suffered by Abertis.

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