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.
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
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
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