Trade opportunities
Standard and Poor’s has affirmed Adani Abbot Point Terminal’s investment grade credit rating, a significant event that has the market buzzing
Week in review
S&P reaffirm Adani Abbot Point Terminal as investment grade, domestic rates rebound from low levels, and the prospect of two further rate cuts in Australia weigh on the currency
Company updates
Following Adani Abbot Point’s recent downgrade by Moody’s to sub investment grade, we look at the continued investment thesis for the terminal. While credit concerns have increased, we believe some patience is key at the moment until the issuer provides a response to the rating outcome. Longer term, Glencore’s actions around its contract renewal in 2020 will be pivotal to the credit profile
Trade opportunities
The debate rages around the proposed Carmichael coal mine development in central Queensland. Investors have reportedly spent over $1 billion on early development of the project but expansion of the port has met with fierce opposition from conservationists. It is a polarising and emotive discussion which can be confusing for investors
Company updates
In case you missed the company news we have published this week, here is a summary
Week in review
The RBA keeps rates on hold, Greece defers IMF payments, the yield curve continues to steepen, Adani Abbott Point goes retail, McPherson’s cuts its profit forecast and PAYCE exits a joint venture and sells development rights
Company updates
Adani Abbot Point Terminal has released its full year accounts to 31 March 2015. The terminal has delivered a solid financial performance which is in line with expectations. The result reflects the relatively stable nature of the terminal’s cash flows generated from its ‘take-or-pay’ user agreements
Week in review
Volatile markets; Swiss National Bank unexpectedly abandons ceiling on the value of the Swiss Franc; bond rally continues; negative government bond yields mount; and bond flows for the past two weeks
At FIIG
FIIG has originated 12 high yield corporate bonds since September 2012
Company updates
Adani Abbot Point Terminal Pty Ltd (AAPT) launched an initial bond offer on 19 May 2014 through FIIG Securities Limited (FIIG), seeking to raise up to A$100m from wholesale investors