Crossovers: future stars
Expectations for greater economic strength and improving corporate profitability suggest a period of relative ratings stability. Credit asks analysts for their views on which names, and why, will become the next rising stars
Many analysts reckon the crossover sector was last year’s news, but that does not detract from the wealth of investment opportunities that fallen angels have provided – and are continuing to provide – for investors. The drop in status from investment grade has forced the management teams of many credits to focus on putting into place effective restructuring plans, cleaning up balance sheets and undertaking prudent financial discipline, such as cost-cutting and selling off non-core businesses.
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