This week, we launched our two newest data licenses - US & European Leveraged Loans. Sitting alongside our four existing data licenses - US High Yield, US Investment Grade, European High Yield and European Investment Grade - this new expansion boosts Cognitive Credit’s total market coverage to 2,600 corporate issuers.
With this expansion, Cognitive Credit is now the only data and analytics provider in credit markets that gives you coverage of US and European bond and leveraged loan markets in one centralized service.
In this post, we’ll cover everything you need to know about this new license: why Leveraged Loans, what’s included and how you can access it.
Why Leveraged Loans?
As quoted by our CEO, Robert Slater, in the related press release, Leveraged Loans was the obvious next step for our coverage of global credit markets. Over the past decade, the leveraged loan market has evolved to be one of the major sub-sectors of the global credit asset class.
The US leveraged loan market is currently measured at over $1.4tn in notional outstanding, more than doubling since 2010 and now eclipsing the size of the US high yield bond market. The European market has tripled in size over a similar period. Recently, however, leveraged loan default rates have started outpacing those of the high yield bond market, emphasizing the ever-present need for robust fundamental credit analysis by investors in the space.
We have also heard first-hand from our clients about the growing need for reliable and timely fundamental data on Leveraged Loans. To meet that need, we’ve brought our proprietary machine-reading technology to bear on the space.
What's included in our Leveraged Loan data?
Our Leveraged Loan coverage is split into two licenses - US Leveraged Loans and European Leveraged Loans. As with all our data sets, these licenses have been developed in collaboration with our buy-side and sell-side clients, and benchmarked to Morningstar's US and European Leveraged Loan indices.
At launch, it includes full financials, credit models and document archives for 750 issuers, complete with historical data back to 2017 (where available).
To facilitate private coverage of this space, clients can share the relevant documents for private names in their focus list, and we will use our proprietary technology to securely deliver the fully populated model to them via our app.
To discuss your private coverage requirements, contact us today.
How can you access our Leveraged Loan data?
The Leveraged Loan coverage can be accessed on-demand via the Cognitive Credit Web App or streamed directly into your business systems via our Data API. Additionally, Web App users can also stream this data directly into their own models via our Excel Add-in (included as standard with a Web App subscription).
Our Web Application is where you’ll find dynamic credit models that you can fully customize to suit your view and update with any new earnings data when available. You can toggle between our 6 different coverage universes (shown below) and includes a suite of analytical tools designed specifically for credit research, helping you make your overall analysis workflow faster and more efficient.
Conversely, our Data API allows you to stream all our raw data directly into whatever business systems you use for your analysis. It's fully customizable to whatever data format and output is required, and supports a range of programming language. This is the most direct way to consume our data.
Why use our credit market data?
It's simple: Coverage, speed and accuracy.
Unlike other data providers, automation and technology is at the heart of what we do. We've developed proprietary tech that identifies, extracts and structures fundamental data from official earnings reports in a fraction of the time it takes a human to do it, resulting in comprehensive models of greater accuracy, delivered faster. It gives credit analysts back the time to focus on what really matters – insightful analysis that leads to better investment decisions.
If you’d like to learn more about how we process and deliver our data, go here.
Ready for your demo?
To start using our data in your analysis of the Leveraged Loans space, you’ll need a subscription to Cognitive Credit. To get started, request your demo today and we’ll show you how our data can take your credit analysis to the next level.
Alternatively, if you'd like to discuss Private coverage requirements, contact us directly today.
