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2015/11/17 / Erste Group Research

Credit Markets - Corporate Bonds

  • The ECB has driven spreads down by implicitly announcing a monetary loosening. Issues in the mining sector have come under increased pressure due to the persistent decline in commodity prices.

  • Andritz: reported satisfactory figures for the first nine months of 2015. Management expects sales and group results to rise. The company has a solid credit profile and a net cash position. 

  • voestalpine: reported a good first half of 2015/16. Credit and profitability ratios have improved. Management is cautious about the expectations for the full year of 2015/16, given the less favorable economic situation in the sectors steel and energy as well as in China.   

  • EUR Primary Market: the issue activity has picked up significantly again on the EUR primary market. We expect this dynamics to continue in the upcoming weeks. 

Peter Kaufmann, CFA
+43 50 100 11183

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General information

AuthorErste Group Research
Product nameCredit News
Topic in focusCredits/ Corporate bonds
Economy in focusEurozone
Currency in focusEuro
Sector in focusConstruction & Material, Industrial Goods & Services, Technology


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