Noble Group (“Noble”) has emerged with a second cut of its debt restructuring after Asian trading hours last night. The market had been...

Kaisa Group (“Kaisa”) will probably go down in history as one of the most curious situations in the market. In our view, the company can...

HNA Group Co Ltd (HNAGRZ CH) ("HNA") has gone through a series of negative news since last year and, to us, it is almost akin to the...

2017 was a decent year for EM bonds in general (both hard and local currencies), amidst strong portfolio/fund net inflows, higher risk...

Negative headlines and the new 363-day USD bond issuance have significantly raised yields of all HNA-related bonds. While we see an...

Noble Group (“the company” or “Noble”), once one of Asia’s larger commodity trading houses and supply-chain managers, is currently...

Sunac China Holdings (“the company” or ”Sunac”) is a mid-sized Chinese property developer of high-end residential and commercial...

The recent power struggle in Saudi Arabia triggered a bond sell-off in the Kingdom’s sovereign bonds. We believe that the sell-off has...

Guangzhou R&F (“the group” or “R&F”) is a mid-sized Chinese property developer with a strong entrenched product and execution track...

Vedanta Resources PLC (VED LN) ("Vedanta")'s rating upgrade by Moody's on 20-November reflects India's sovereign rating upgrade 3 days...

Indika Energy (“Indika” or “the group”) is one of Indonesia’s last surviving legacy coal mining credits which has emerged relatively...

Phosagro, the largest standalone fertilizer producer in Europe, has been victimized by the Ruble's appreciation vs the USD and weak...

HNA has grown so Huge it has become a National interest, in our judgment. Its Aggressive acquisitions backed by rising leverage have...

China Evergrande Group (the group) holds the distinction as the largest Chinese property developer by the size of land bank. Its...

Monitor: Moody’s Downgrade on China Is the First Domino to Fall). The outlook was revised to stable from negative. We reiterate our...