Credit Calls

This report provides a daily review of credit markets, highlighting hyperscaler supply concerns in TMT, Delta Air Lines credit potential, and energy market updates.

Key Takeaways

• 1.High-yield energy natural gas pricing remains muted in the near-term due to timing, though structural demand from LNG and data centers is expected to grow long-term.
• 2.Supply concerns in the Investment Grade TMT sector are rising, driven by significant hyperscaler debt issuance that is testing investor absorption capacity.
• 3.Delta Air Lines credit rating upside is significant, with potential for S&P upgrade to mid-BBB as the company prioritizes leverage reduction.

Table of Contents

• Feature
• Strategy & Sector Commentary
• Bits, Broadcasts & Bandwidth: Weekly Investment Grade TMT Review
• Cracking Credit: JPM High Grade & High Yield Chemicals Weekly
• Credit Market Outlook & Strategy: Summer issuance: Always a chance of thunderstorms
• Credit Strategy Weekly Update: High Yield and Leveraged Loan Research
• Electric Utilities & Power: Sparking Credit: 2026 Mid-Year Outlook; Weekly Briefing: EIX Receives Mixed Ruling in Eaton Fire Litigation
• HG & HY Consumer Checkup: Messi on a Million Backs, Messi for a Million Flashbulbs. One Kick of the Football.
• HG & HY Food for Thought: Four Score and Seven Beers Ago
• HG & HY Weekly Register: The Deals Are Alive
• High Grade Automotive: Weekly Road Trip
• Topical This Week:
• High Yield Energy: Fracking Credit – JPM High Yield Energy Weekly

Document Preview

Page 1 of 5

Subscribe for full accessStart Free Trial