01
Initial Credit Dossier
Full issuer deep-dive: business and industry analysis, adjusted financials, leverage and liquidity, scenarios, recovery, capital structure and covenants — concluding in a narrative credit view.
Independent credit research
Independent credit analysis that strengthens your bond decisions.
Institutional-grade fundamental credit analysis on corporates and financial institutions, across investment grade and high yield, in developed and emerging markets — delivered as an input to your own investment process, built on 15+ years of buy-side experience.
15+
years buy-side credit experience
DM + EM
developed and emerging markets
IG + HY
investment grade and high yield
Corp. + FI
corporates and financial institutions
The model
An analytical input to your investment process.
Elqui Bond Research produces the rigorous, fact-traceable credit analysis your team needs to decide faster and with more conviction. Every credit view is built bottom-up from filings, prospectuses and primary data — issuer profile, adjusted financials, scenarios, recovery, capital structure, covenants — and written for a credit committee, not for marketing.
- We supply credit analysis and views as an input. The investment decision stays with you.
- We do not give personal investment advice and we do not issue credit ratings.
- Every claim in a dossier is traceable to a specific filing, document or data point.
Services
Analytical products.
02
Surveillance Updates
Ongoing monitoring of covered issuers with event-driven updates as fundamentals, structure or market conditions change. The recurring core of the model.
03
Capital Structure & Covenant Analysis
Tranche-level risk mapping with seniority, collateral and documentation breakdown across the issuer's debt stack.
04
Scenario & Recovery Analysis
Base and downside modelling, with valuation-anchored recovery work across multiple methodologies.
05
Bespoke Analytical Support
Universe screening and tailored credit analysis across a client's specified list of issuers.
Approach
A sequential, evidence-led pipeline.
- 01Financing purpose & capital structure
- 02Qualitative analysis (industry, strategy, management, ESG)
- 03Financial statement analysis (adjusted earnings, cash flow, leverage)
- 04Forecasting & scenario analysis (base / downside cases)
- 05Corporate valuation & recovery (multi-method TEV range)
- 06Structuring & documentation review (covenants, seniority, collateral)
- 07Credit assessment & analytical write-up
Every claim is traceable to a specific filing or data point. AI workflows accelerate coverage and consistency, but credit judgment is human — and the investment decision remains the client's.
Coverage
What we cover.
Sectors
CorporatesFinancial Institutions
Markets
DevelopedEmerging
Quality
Investment GradeHigh Yield
Currencies
USDEUR
Sample dossier
See the work before you commit.
A redacted sample Credit Dossier is available on request — the same structure, depth and traceability you would receive on a covered issuer.
About
Founder-led credit work.
Marco Lantermo — senior buy-side credit analyst with 15+ years across investment grade and high yield in developed and emerging markets, covering both non-financial corporates and financial institutions. Luxembourg-based, with a background spanning the full investment lifecycle within UCITS and AIFM environments.
Elqui Bond Research is the continuation of that track record as an independent practice: the same standard of analysis, delivered directly to the teams that need it.
LinkedIn profile →Contact
Start a conversation.
Briefly describe your coverage needs and we will respond with a scoped proposal and a sample dossier.