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Gimme Credit Recommends 10 High-Yield Companies

By Anusha Shrivastava Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Visteon Corp. (VC), Advanced Micro Devices Inc. (AMD) and Rite Aid Corp. (RAD) are among 10 junk-bond issuers whose debt is likely to outperform the market over the next six months, according to corporate bond research firm Gimme Credit. The list includes companies ranging from clothing discounters to casino operators to construction-equipment manufacturers. "Every investor will have their own view of how to balance their portfolio, so we provide names with different characteristics," said Kim Noland, director of high-yield research at Gimme Credit. "We try to get a diverse representation." In addition to car-parts manufacturer Visteon, microchip maker Advanced Micro Devices and drugstore chain Rite Aid, the list includes the clothing retailer Burlington Coat Factory Warehouse Corp., casino operator Caesar's Entertainment Corp., hospital manager Community Health Systems Inc. (CYH), specialty chemicals maker Momentive Performance Materials Inc., aluminum products maker Novelis Inc., and two construction-equiment rental companies, RSC Holdings Inc. (RRR) and United Rentals Inc. (URI). "A welcoming high-yield market has permitted some less creditworthy companies to extend maturities, improving their credit profile," Noland said. "Other strong issuers have taken advantage of the relatively low cost of credit to oppportunistically refinance." So-called "junk" bonds have returned 4.98% to investors so far this year, according to a research report from Citigroup. Interest in new new deals is such that issuance touched a record in May. The low interest rate environment has made high yield bonds attractive, even though they are riskier. Three names on the latest list appeared in Gimme Credit's last report in April 2010: Momentive, Rite Aid and RSC Holdings. Gimme Credit, which is based in New York, said it plans to issue its next list in January 2012. -By Anusha Shrivastava, Dow Jones Newswires; 212-416-2227; anusha.shrivastava@dowjones.com

Stock News for Rite Aid (RAD)
DateTimeHeadline
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04/10/201408:06:40Rite Aid Profit Falls 55% Despite Continued Sales Growth
03/17/201417:37:48Attorneys General Urge Major Retailers to Stop Selling Tobacco...
03/17/201416:00:51Major Retailers Urged to Stop Selling Tobacco Products
03/17/201415:31:14Attorneys General Urge Major Retailers to Stop Selling Tobacco...
03/17/201413:17:32Correction to Tobacco Products Story

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