Credit & Fixed Income 2018-04-01T16:47:30+00:00

ABI ANALYTICS

CREDIT & FIXED INCOME RESEARCH

Leverage Our Experienced Analysts Pool Across Sectors & Markets To Expand Coverage; Flexible Engagement Models To Make It Cost Effective

CREDIT & FIXED INCOME: BUY-&-SELL-SIDE RESEARCH SOLUTIONS

Leveraging Our Experienced Analysts – Across Rating Categories, Sectors & Markets – To Expand Coverage Efficiently; Research Support For Generating Investment Ideas, Market Monitoring, Coverage & Maintenance, Sector & Thematic Research And Portfolio Analytics

ABI’s CREDIT & FIXED INCOME RESEARCH SERVICES

ABI’s Credit & Fixed Income Research Services are focused on providing high-end research and modelling support to global buy-side and sell-side clients. We enable global firms to remain competitive by generating high quality differentiated research at significant cost optimization.

ABI analysts have extensive experience and deep capabilities in providing credit & fixed income research solutions to financial institutions worldwide. Their experience spans a range of credit research and modeling assignments for global asset managers and investment banks across Investment Grade. High Yield, Distressed, Securitized debt categories.

At ABI, Credit & Fixed Income Research is all about translating in-depth understanding of macroeconomic variables and policy development, sector dynamics and business value drivers into credit situation analysis and modelling. Our experienced research team supports client across idea generation, deep-dive fundamental analysis, credit modelling, market & sector monitoring, portfolio performance tracking etc.

Leveraging our flexible engagement models, our clients engages us as an extension of their internal team – either through dedicated equity analyst(s) exclusively working for the client or by engaging equity analysts(s) on project-by-project basis.

OUR SERVICES PORTFOLIO – CREDIT & FIXED INCOME RESEARCH
INVESTMENT GRADE / HIGH YIELD / DISTRESSED DEBT / LEVERAGE LOANS / SECURITISED CREDIT / SOVEREIGN / MUNICIPAL

CREDIT MODELLING

Cash Flow Modelling

Shadow Credit Ratings

Leverage Buy-Out (LBO) Model

Recovery Analysis Model

Cash Flow Waterfalls

RESEARCH NOTES

Credit Tear Sheet

Opinionated Credit Note

Thematic Research Note

Sector Investment Note

Special Events Credit Note

CREDIT ANALYSIS

Covenant Analysis

Capital Structure Analysis

Indenture Screening

Convertible Analysis

Economic Analysis

DATABASES

Relative Valuation Sheets

Economic Data Monitoring Sheets

New Issuance

Deals Database

KPIs & Peers’ Bench-marking

NEWS MONITORING

Regulatory / Policy Decisions

Central Banks & Financial Institutions

Newsletters

Market & Sector

Credit Rating / Credit Actions

WHY ABI ANALYTICS FOR CREDIT RESEARCH

DEEP EXPERIENCE…

700+ credit models and research notes across diverse rating categories, fixed income products, industry sectors and markets – that our analysts have covered in their professional assignments   

Traditional Sectors: Real Estate I Infrastructure I Utilities | Manufacturing | Energy | Food & Consumer Products I Agribusiness | Banking & Financial Services I Insurance | Metals & Mining | Media & Entertainment | Healthcare | Telecommunication

New Age Sectors: Technology | Semiconductor | Software | Biotech | Alternate Energy I Software I Artificial Intelligence I E-Commerce & Internet-Enabled Businesses

Region: 40+ countries across North America, Europe, Asia-Pacific, the Middle East, Africa, the Indian Sub-Continent

Research: 700+ Credit Models I 300+ Credit Notes I 300+ Securities Tracked Regularly

PROFESSIONAL EXPERTISE…

70+ years of combined credit research experience with deep-dive fundamental analysis, credit modelling, report writing, thematic research and complex securities valuation

Team: 10 professionals with top 4-principals each having more than 10 years of credit & fixed income research experience

Qualification: MBA Finance I CFA I CPA

Experience: Investment Bank I Private Equity I Project Finance I Corporate Strategy I Business Consulting

COMPLEMENTARY CAPABILITIES…

Our ability to leverage experienced professionals from various domain to quickly understand sector/geography specific nuances is an added advantage

Sector Experts: 30+ sector experts with 10+ years of average domain experience

Technology Experts: 10+ technology intellectual property experts to help understand nuances of technology and their commercialization potential

Market Research: Internal Knowledge Base of 100+ market research to quickly understand business drivers and sources of value creation / destruction

Database: Internal Database on “guideline public companies” across geographies and growth curve, with their operational and valuation multiples, that helps quickly understand factors impacting valuation

ENGAGEMENT EXAMPLES & KNOWLEDGE LIBRARY

CASE STUDY 1

ABI Supports Distressed Debt Team Of A European Asset Manager

THE CLIENT

Asset management team of a leading financial institution in Europe wanted outsourced analysts support for its Distressed Debt Investment team.

SCOPE OF WORK

The client needed a ready to deploy team with deep expertise in distressed debt analysis, credit modelling and investment monitoring.

The specific scope of the work included:

  • Investment screening on quantitative and qualitative assessment
  • Deep-dive analysis on shortlisted credit situation
  • Credit modelling and recovery analysis with scenarios & sensitivity
  • Credit note for the investment committee
  • Continuous monitoring of coverage universe along with macroeconomic and policy development
  • Gleaning through bankruptcy filings, settlement etc. to assess the recovery value

ABI SOLUTION

  • ABI deployed an experienced team of 4 analysts, each with robust experience distressed debt and vulture investing research
  • Robust engagement governance framework based on three tiers of project performance monitoring – that helped both sides to reach business-as-usual phase quickly:
    • Monthly Review by Steering Committee comprising ABI Program Director and The Client Program Director
    • Weekly Review by the Client’s Lead Analysts with ABI Program Manager and the assigned team
    • Daily call and status update to streamline priorities and manage urgent work requirements
  • ABI team developed quant database to screen potential distressed debt situations and shortlist the most promising ones. Moreover, on a weekly basis, ABI time covers all the ongoing bankruptcy cases and new bankruptcy filings across markets
  • ABI conducts deep-dive analysis on shortlisted credit situations and identifies sources of value, their recovery potential followed by an incisive analysis on capital structure and seniority thereof to prepare cash flow waterfall with recovery analysis; additional focus on evaluating covenants, subordination, guarantees and ring-fencing provisions
  • ABI also credit notes with incisive analysis for the consideration of the investment approval committee
  • ABI analysts monitor the development and proceedings on all shortlisted and invested credit situations continuously to update the Client’s traders and analysts on any change in credit scenario
  • Focus on data-security and well-defined access structure keeps the data and information security as the same level as is found in the internal team. All sensitive data were maintained in a secured data room with VPN access to ABI analysts

ENGAGEMENT BENEFITS

  • Time-efficient as experienced analysts work on the assignment and client could quickly ramp up the coverage without adding extra capacity at its end.
  • Continuous communication and discussion on interim deliverable meant that the entire team was aligned with the same objective as that of client