Highlights
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21 Jun 2017
- Automotive Parts Suppliers - Europe: Electrification to Be Modestly Positive for Some European Auto Suppliers
The growing adoption of alternative fuel vehicles (AFVs) with hybrid or all-electric powertrains will be revenue positive for powertrain components suppliers. However the boost to earnings for auto suppliers is likely to be much smaller than per-vehicle content level multiples would seem to suggest. Full Report
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16 Jun 2017
- Speculative-grade non-financial corporates - EMEA: Covenant-lite returns with a vengeance, eroding investor protection.
Lending conditions will continue to strongly favour borrowers, with covenant-lite becoming standard during 2017, and maintenance covenant tests reserved for smaller issuers in volatile sectors. Press Release l Full Report
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14 Jun 2017
- Non-Financial Corporates - EMEA: IFRS 16 Should Provide a Better Picture of the Future Cash Outflow for Leases
IFRS 16 essentially converts an off-balance-sheet obligation into an on-balance-sheet liability, but it should also provide better insight into the magnitude of the future cash outflow. Full Report
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