EM ASIA CREDIT: Q1 Results: Cikarang (CIKLIS, Baa3/BBB-/NR) - Solid
Apr-30 07:53
The Indonesian power company, Cikarang Listrindo, with 1.1GW of installed generating capacity has published its Q1 results. Overall marginally weaker profitability, with EBITDA down 3.1% YoY to $51m. Reported leverage remains low at 0.4x versus 0.5x in 2024. Cikarang Listrindo is now back to the IG indices. Moody's and S&P upgraded to IG in March, at the time of the $350m 10y deal. Overall neutral for spreads.
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CROSS ASSET: Risk-Off Moves Start To Fade
Mar-31 07:51
Nothing much in terms of overt drivers for the moderation in the risk-off moves. Seems cross-asset flow-driven, with oil and equities off lows, while bonds are off highs.
US TSY OPTIONS: TYM5 108.50 Puts Sold
Mar-31 07:47
TYM5 108.50 puts ~4K given at 0-11.
US TSY OPTIONS: TY Upside Flow
Mar-31 07:45
Upside exposure covering TY in recent trade:
- TYK5 113.50/115 call spread, covered vs. 111-17 (-5% delta), paper paid 10 in on ~4.5K
- TYK5 113.50/115 call spread paper paid 10 on ~5.8K.
