Credit research.
Fundamental and structural analysis across the leveraged-finance market — from performing high yield to the deepest distressed situations.
Distressed debt
Recovery analysis, fulcrum identification and downside protection where the structure is stressed.
Capital structure
How the stack is built, where the leverage sits, and which tranche the value breaks at.
High yield & private credit
Performing-credit coverage, refinancing risk and the cracks forming in the direct-lending book.
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