Free Trial

CONSUMER STAPLES: JAB Group; S&P moves to watch negative (x2)

CONSUMER STAPLES

(JABHOL; Baa1 Stable, BBB+ Watch Neg)

JAB levels have always been 'interesting' for carry and somewhat remain that way (ignoring short-end).
The beta from the co does come from its investments performance but also how it manages loan-to-value/LTV ratio - its history in keeping it within the 15-20% target (outside temporary spike during Covid) is a positive.

Keep reading...Show less
164 words

To read the full story

Close

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.

(JABHOL; Baa1 Stable, BBB+ Watch Neg)

JAB levels have always been 'interesting' for carry and somewhat remain that way (ignoring short-end).
The beta from the co does come from its investments performance but also how it manages loan-to-value/LTV ratio - its history in keeping it within the 15-20% target (outside temporary spike during Covid) is a positive.

Keep reading...Show less