EFTA02029821Set 10
2020-10-1524p12,977w
upgrade is likely and these returns would exceed
the 5.7% YTW of the JPM HY Index and the 4.7% YTW of the Auto sector.
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• Relative Value: We expect Dana ... WOWFIN Caa11CCC• 13.375% 2019 112.8 10.18% 7.0x 7.0x
CabW5at Index 5.63%
Global HY Index 5.88%
Spit B Index 7.40%
Sources JP Morgan, Moody's. and S&P
Note ... tightened a lot, it still offers 70 bps of pickup
over the JPM HY Index and remains one of the cheapest bonds in the sector.
• Expected Improvement in Earnings
https://www.justice.gov/epstein/files/DataSet%2010/EFTA02029821.pdf