April 12, 2024 09:32 GMT
Rolls-Royce (Ba1/BBB-/BBB-): Drifting Wider
CAPITAL GOODS
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- ROLLS bonds have drifted wider this week with 28s ~10bp wider.
- The curve looks quite flat, with the ROLLS 3.375 26s screening at the wide end of the low BBB industrials universe.
- ROLLS liquidity is strong with 2024/2025 bonds forecast to be paid down from cash.
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