Monthly Archives: September 2016

StoneMor’s Distribution Rate is Too High

StoneMor Partners, L.P. (STON) is the second largest owner/operator of cemeteries and funeral homes in the United States.  The company controls 307 cemeteries in 27 states and Puerto Rico.  Of those, 276 are owned and 31 are operated under contract.  … Continue reading

Posted in Consumer Staples, High Yield Bonds, STON | Leave a comment

Covanta’s Dividend Boost Now Faces a Test

Covanta Holding, through its subsidiaries, is the largest owner and operator of Energy from Waste (EfW) facilities in the U.S. The company accepts waste from its customers, mostly municipalities, and burns it to produce electricity. It also recovers iron and … Continue reading

Posted in CVA, Industrials | Tagged , | Leave a comment

Cloud Peak’s Exchange Offer

On Sept. 12, Cloud Peak Energy (CLD) launched an exchange offer for its two series of outstanding bonds:  the 8.5% Senior Notes due 2019 and the 6.75% Senior Notes due 2024.  The company offered to exchange up to $400 million … Continue reading

Posted in CLD, Materials | Tagged , | Leave a comment

Friday’s Sell Off Likely Ushers in New Bout of Volatility

Stocks sold off hard on Friday (9/9). The market plunged in the first hour of trading, fell steadily throughout the day and closed with a rush of selling in the final hour of trading. All told, the major market averages … Continue reading

Posted in Market Commentary | Leave a comment