FIIG Research

  • WA Stockwell Update - 18 March 2020

    Mar 25, 2020
    We provide an update following 1H20 results and settlement of Noosa Civic Shopping Centre
    Full story
  • Next Generation Update - 24 March 2020

    Mar 25, 2020
    We provide an update following government mandated shutdown of non-essential services.
    Full story
  • Sunland Group Update - 24 March 2020

    Mar 25, 2020
    We provide an update following recent results from Sunland.
    Full story
  • Latest views on the market

    Mar 23, 2020
    Full story
  • Bank bonds – an opportunity to increase IG exposure

    Mar 20, 2020
    The RBA’s QE announcement yesterday focused on ensuring flow of credit to businesses and households via ADIs. We think the lowering of funding cost for banks is a net positive for the institutions in the current challenging operating environment.
    Full story
  • The RBA goes unconventional

    Mar 20, 2020
    We look at the RBA’s latest series of decisions and implications.
    Full story
  • COVID-19 Update - Business As Usual for FIIG and its clients

    Mar 18, 2020
    Full story
  • Virgin Australia S&P Downgrade March 2020

    Mar 17, 2020
    On 16 March 2020, S&P Global Ratings (S&P) downgraded its corporate rating on Virgin Australia Holdings Ltd (VAH, Company) by two notches. At the same time S&P downgraded its rating on the Company's senior unsecured notes and affirmed the recovery rating on the notes. S&P placed VAH’s ratings on CreditWatch Negative. The rating action, which in and of itself wasn’t a surprise, is reflective of a view that the Covid-19 fuelled rapid deterioration in the international airline market has spread through to the Australian domestic market.
    Full story
  • Coronavirus and oil shock – impacts and strategy

    Mar 13, 2020
    The coronavirus, followed by the nascent oil price war, has been the largest shock that the most expensive equity markets since the Great Depression and lowest yielding bond markets in history has received.
    Full story
  • QTC - Time to re-visit investment grade opportunities

    Mar 13, 2020
    During this time of dislocation, investors are seeking more safety and capital preservation. As we have noted in the past, while higher risk does offer higher returns, it is important to maintain adequate portfolio quality and diversity.
    Full story
  • Pioneer Credit – 1H20 Results and Sale Update

    Mar 06, 2020
    On 28 February 2020, Pioneer Credit Ltd. released its financial results for the six months ended 31 December 2019 which were impacted by funding constraints that were placed on the Company during the period.
    Full story
  • IMF Bentham – 1H20 Results

    Mar 06, 2020
    IMF’s 1H20 results provided very few surprises, underpinned by a number of case wins, with gross proceeds from litigation cases of AUD143m. We also note that as of 5 March, 2020, IMF officially changed its name to Omni Bridgeway Limited.
    Full story
  • Zip Co - 1H20 Results

    Mar 06, 2020
    On 27 February 2020, Zip Co Ltd released results for the first six months ended 31 December 2019. Momentum remains strong, with asset quality also remaining sound.
    Full story
  • CML - 1H20 Results

    Mar 06, 2020
    On 28 February 2020, CML Group Limited (CML) released results for the first six months ended 31 December 2019. Overall performance was sound and largely in line with expectations.
    Full story
  • NEXTDC - 1H20 Results

    Mar 03, 2020
    We provide an update following NextDC’s 1H20 results.
    Full story
  • Rockpoint Gas Storage Results

    Mar 02, 2020
    On 28 February 2020, independent gas storage operator, Rockpoint Gas Storage (Rockpoint, Company), reported its third quarter (3Q20) results for the period ended 31 December 2019. Overall, the top line was very soft, with total realised revenues of USD31.9m for 3Q20 comparing poorly with USD47.2m in 3Q19. Adjusted EBITDA was broadly flat on the prior corresponding period (pcp) at USD25.4m compared to 3Q19 at USD26.3m. However, adjusted EBITDA improved significantly quarter-on-quarter with 2Q20 coming in at only USD3.2m.
    Full story
  • Oasis Petroleum FY19 Results

    Mar 02, 2020
    In late February 2020, independent exploration and production company, Oasis Petroleum Inc. (OAS, Company) reported its fourth quarter (4Q19) and full year (FY19) results for the period ended 31 December 2019. Overall, the results were solid. Total revenues for 4Q19 and FY19 were USD484m and USD2.1bn, respectively. Despite the lower revenues, OAS has actively managed its cost structure.
    Full story
  • EQM Midstream Partners Results and Merger Update - March 2020

    Mar 02, 2020
    On 28 February 2020, natural gas pipeline operator, EQM Midstream Partners LP (EQM, Company) announced its fourth quarter (4Q19) and full year (FY19) results for the period ended 31 December 2019. The Company posted revenues and EBITDA of USD1.63bn and USD1.34bn, up 9% and 34%, respectively on the prior year. In addition to the results, EQM announced it would merge with Equitrans Midstream Corp (ETRN), the current holding company and 60% shareholder of EQM. It is expected that the transaction will close 2Q20. In conjunction with the ETRN merger announcement, EQM also released details of a revised agreement with EQM’s largest customer, EQT Corp (EQT).
    Full story
  • What to do about low cash yields?

    Mar 02, 2020
    Whilst cash offers security. the current low rates mean many investors can no longer accept this asset as a core portfolio holding. We examine an option with similarly high levels of security but improved yields.
    Full story
  • David Jones 1H20 Results

    Feb 28, 2020
    We provide an update on David Jones following 1H20 results, which were comparatively softer owing to 1H19 following lower foot traffic from bushfires and softer consumer confidence.
    Full story

Copyright © 2019 FIIG Securities Limited | ABN 68 085 661 632 | AFSL No 224659 | Financial Services GuideSitemap | About us
FIIG provides general financial product advice only.  For a copy of our disclaimer please refer to fiig.com.au/disclaimer
* Based on FIIG’s high yield sample portfolio. Click here to view. Subject to change and before fees. Please see our FSG for any applicable fees.