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High Yield – Manufacturing/General Industrials: Second

Nitin Dias, Stephanie Renegar & team
J.P. Morgan

After two years in first place, J.P. Morgan’s London-based foursome under Nitin Dias and Stephanie Renegar slips to second, but it maintains a loyal following nonetheless: “This is a sharp team with coverage that’s both broad and deep,” says one satisfied client. In September the analysts, who report on 41 issuers, told investors to go long on Kerling’s 10.625 percent 2017 notes, at 89.25 percent of par, in part on ethylene price declines. The U.K.-based chemicals producer subsequently announced measures to boost pricing discipline and margins, and by mid-January the bonds had risen to 99.88 percent of par. Dias and Renegar also head the teams that claim second place in High-Yield Basic Materials and Investment-Grade Manufacturing/General Industrials, as well as a runner-up crew in Investment-Grade Basic Materials. — Ben Mattlin


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