Mar 22, 2019
"It has just over $1 billion of debt, which compares with an equity valuation of $6.6 billion at the stock’s offering price, so it is hardly overleveraged, according to data from KDP Investment Advisors, a Montpelier, Vt.–based independent high-yield bond analysis firm. KDP deems Levi’s bonds investment grade, compared with the rating agencies that peg them at the high end of speculative grade."
Feb 28, 2019
"The company will generate little if any free cash flow over the next several years and will not be able to reduce debt at a faster pace than asset sales allow,” KDP Asset Management analyst Barbara Cappaert said in a Feb. 21 note. “As such, we expect refinancing issues to again become a problem in 2021 when roughly $2.6 billion of secured debt comes due."
Aug 09, 2018
"We think that it is likely that another suitor will emerge for Tribune in the near-term," Kenneth Duffel, an analyst with KDP Investment Advisors, said in a note."
Apr 24, 2018
"According to estimates of KDP Investment Advisors, a Montpelier, Vt., high-yield research firm, Netflix will have negative free cash flow of $2.39 billion in 2018, up from $2.02 billion in 2017."
Mar 12, 2018
"KDP Investment Advisor’s Mark McCabe writes that he viewed the move and the pricing as a positive for Valeant’s credit, as the offerings “extend the company's maturities and are leverage neutral."
Nov 16, 2017
"Cumulus Media's restructuring proposal is not "likely to pass muster" as the company exchanges terms with lenders for a prepackaged Chapter 11 filing, KDP analyst Barbara Cappaert wrote in a note dated Nov. 16."
The Wall Street Journal
Aug 09, 2017
"“This [Tesla] is basically an equity story,” said Michael Cazayoux, a high yield analyst at KDP. “The bond market is more of a professional market and we’re looking at it from credit metrics.”"
Jun 26, 2017
"Construction is a decent-sized part of Arconic’s business, though it isn’t their focus,’’ said Mike Cazayoux, a credit analyst at KDP Investment Advisors.
“The real problem here is the potential liabilities from not only the deaths in and of themselves, but also the cost of retrofitting other buildings with the panels. Those factors could have a credit impact.’"
May 02, 2017
"Bond research firm KDP raises Rent-A-Center’s 2017 Ebitda forecast and says turnaround plan is off to a “good start” in a note Tuesday."
Mar 09, 2017
"Valeant Pharmaceuticals International was out selling billions of dollars in notes to refinance some of its short-term maturities on Thursday. It also refinanced billions in loans.
On offer were $1.25 billion of five-year notes at 6.5% and $2 billion of seven-year notes at 7%. The offer was upsized from $2 billion. Mark McCabe of KDP Investment Advisors wrote in a research note that he finds both offers attractive."
CBS News / Associated Press
Feb 10, 2017
"“The equity markets continued their onward advance buoyed by President Trump’s promise to unveil a plan to reduce corporate taxes,” analysts with KDP Investment Advisors said in a note."
Dec 03, 2016
"Far more money — 44 percent of CoreCivic’s 2015 revenue, said Terry Dwyer, an analyst with KDP Investment Advisors — flowed from contracts for detention centers run on behalf of Immigration and Customs Enforcement and the United States Marshals Service...“The outlook for the companies really changed overnight with the election of Mr. Trump,” Mr. Dwyer of KDP Investment Advisors said."
Sep 15, 2016
"The view is different for bondholders, according to Barbara Cappaert, an analyst with KDP Investment Advisors Inc. Putting the interactive business in an unrestricted subsidiary means that cash may not be available to pay interest or reinvest in the company’s other businesses, she said. Funds could be used to buy back stock or declare a dividend."
Jul 27, 2016
"KDP’s Scott Dinsdale, headlined his Tuesday report, “Sprint 1Q16 Surprising Sub Adds, But At What Cost?” noting that although subscriber growth was impressive, it came thanks to major price cuts."
Jun 02, 2016
"Terrence Dwyer, an analyst at KDP Investment Advisors, downgraded the bonds to hold from buy last week, saying that while Erickson has signed deals to work with the State of Alaska, National Aeronautics and Space Administration and the U.S. Department of Defense, it hasn’t found new business to replace contracts in Afghanistan."