We have long viewed C&W as a deteriorating credit owing to the poor operating profile; recent disclosure has confirmed our analysis. In fact the credit could further deteriorate because the business model remains questionable. Hence the company is vulnerable to a fall to high yield and will need to show superior execution for us to change our negative view, which may require a change in management.
C&W Global’s restructuring plan, announced on N
The week on Risk.net, October 6-12, 2017Receive this by email
- SGX, HKEX expect to be among first wave of Mifid II equivalence
- Leaked EU doc could shield legacy swaps from clearing grab
- ABS set for revival under US Treasury’s liquidity buffer plans
- Quantile, TriOptima face off in cleared swaps compression battle
- Quants stymied by lack of alternative risk premia flows data