Auto Parts Maker Visteon Appears on Gimme Credit's High Yield Top Ten

NEW YORK, July 7, 2011 /PRNewswire/ -- Gimme Credit, the leading independent corporate bond research firm, announced today its semi-annual High Yield Top Ten. "Demand for high yield bonds has been strong over the last year, sending yields lower," says Kim Noland, director of high yield research at Gimme Credit. "A welcoming high yield market has permitted some less creditworthy companies to extend maturities, improving their credit profile. Other stronger issuers have taken advantage of the relatively low cost of credit to opportunistically refinance."

"The High Yield Top Ten focuses on bonds with good relative value that we expect to outperform the market over the next six months," Noland continues. In addition to Visteon the High Yield Top Ten includes among others the following names: Advanced Micro Devices, Caesar's Entertainment, Community Health and Rite Aid.

"After a trip through bankruptcy, Visteon issued new high yield bonds to extend its bankruptcy exit financing," says Evan Mann, senior high yield analyst at Gimme Credit. "The auto parts maker significantly reduced leverage, has adequate liquidity, and a large presence in the faster growing Asian markets. This presence could make it a takeover candidate."

The complete Top Ten report is available upon request. For additional comment from Gimme Credit analysts please direct requests to Susan Assadi [email protected].

About Gimme Credit:

Gimme Credit is a leading provider of independent corporate bond research to banks, brokers, hedge funds, investment managers and individual investors. The company provides Daily Research Reports with investment recommendations, Intraday Comments, Credit Scores and Analyst Data Sheets on investment grade, crossover, and high yield corporate bonds to thousands of investment professionals at hundreds of financial institutions worldwide. Gimme Credit was founded in 1994 and has offices in New York and Chicago. For more information see www.gimmecredit.com.

Press Contacts:  Susan Assadi or Angela Jamison
[email protected]  or [email protected]
Gitenstein & Assadi Public Relations 800-922-8792 or 480-860-8792

SOURCE Gimme Credit