Company reporting galore as Ausdrill exceeds cashflow expectations, CML and Dicker Data both post solid results, Kinross 2041 bond added to our DirectBond list, PMP reports it is in a near debt free position, Sunland bonds offering good value on the back of its results and Qantas FY16 profits up 57% from the previous year
Week in review
Global central bankers insist on running in circles, lack of volatility continues in domestic credit and Kinross added to our DirectBond list
While the results are solid overall, they also point to the fact that an increasing proportion of earnings are being generated from Kinross’ Russian gold mines, which has been a key factor in the downgrade of Kinross’ credit rating to Ba1 from Moody’s. The Russian mines have performed extremely well in the recent quarter following the devaluation of the Russian ruble.
Kinross Gold Corporation USD 5.95% 15 March 2024 Senior Unsecured Bond