Spread Research: Investigación crediticia independiente

Investigación crediticia independiente

A través de su marca Spread Research, EthiFinance es el principal proveedor independiente de estudios de crédito en Europa. La empresa se fundó en 2004 en Lyon (Francia).

Nuestro equipo de analistas sectoriales ofrece análisis fundamentales y recomendaciones de inversión en los mercados de bonos de alto rendimiento, cruzados, híbridos corporativos y convertibles a una amplia base de clientes que incluye fondos de crédito institucionales especializados, fondos de cobertura, mesas de negociación, bancos privados y oficinas familiares. El estudio cubre aproximadamente 230 emisores de deuda en euros y en GBP.

Los servicios de Spread Research también incluyen el análisis ESG de la cartera de investigación crediticia, basado en una metodología definida internamente que tiene como objetivo integrar mejor las consideraciones ESG en el riesgo crediticio.

Conéctese a la plataforma

Conexión Prueba gratuita

European Coverage

Sector	Name	Universe
Automotive	ADLER PELZER	EUROPEAN HIGH YIELD
Automotive	Adient	EUROPEAN HIGH YIELD
Automotive	Autodistribution	EUROPEAN HIGH YIELD
Automotive	Bekaert	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Automotive	Clarios (Power Solutions)	EUROPEAN HIGH YIELD
Automotive	Fca Group (Fiat)	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Automotive	Forvia	EUROPEAN HIGH YIELD
Automotive	Gestamp	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Automotive	Grupo Antolin	EUROPEAN HIGH YIELD
Automotive	Jaguar Land Rover	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Automotive	LKQ	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Automotive	Pasubio	EUROPEAN HIGH YIELD
Automotive	Pirelli	DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Automotive	Renault	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Automotive	Smrp Bv	EUROPEAN HIGH YIELD
Automotive	Standard Profil	EUROPEAN HIGH YIELD
Automotive	Superior Industries	EUROPEAN HIGH YIELD
Automotive	TI Fluid Systems	EUROPEAN HIGH YIELD
Automotive	Valeo	DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Automotive	Volkswagen	EUROPEAN HIGH YIELD
Automotive	Volvo Ab	DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Cable	Altice France	EUROPEAN HIGH YIELD
Cable	Tele Columbus	EUROPEAN HIGH YIELD
Cable	Telenet	EUROPEAN HIGH YIELD
Cable	United Group	EUROPEAN HIGH YIELD
Cable	Upc Holding	EUROPEAN HIGH YIELD
Cable	Virgin Media	EUROPEAN HIGH YIELD
Cable	Vodafoneziggo	EUROPEAN HIGH YIELD
Capital Goods	Belden	EUROPEAN HIGH YIELD
Capital Goods	Cemex	EUROPEAN HIGH YIELD
Capital Goods	Evoca	DISCONTINUED HIGH YIELD/EUROPEAN HIGH YIELD
Capital Goods	Frigoglass	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Capital Goods	Kaefer	EUROPEAN HIGH YIELD
Capital Goods	Kiloutou	EUROPEAN HIGH YIELD
Capital Goods	Loxam	EUROPEAN HIGH YIELD
Capital Goods	Modulaire (Algeco)	EUROPEAN HIGH YIELD
Capital Goods	Nexans	EUROPEAN HIGH YIELD
Capital Goods	Norican	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Capital Goods	Novafives	EUROPEAN HIGH YIELD
Capital Goods	Pfleiderer	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Capital Goods	Profine	EUROPEAN HIGH YIELD
Capital Goods	Prysmian	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Capital Goods	Renk	EUROPEAN HIGH YIELD
Capital Goods	Renta	EUROPEAN HIGH YIELD
Capital Goods	Rexel	EUROPEAN HIGH YIELD
Capital Goods	Rheinmetall	EUROPEAN CONVERTIBLE
Capital Goods	Rolls-Royce	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Capital Goods	Sarens	EUROPEAN HIGH YIELD
Capital Goods	Thyssenkrupp Elevator	EUROPEAN HIGH YIELD
Capital Goods	Victoria	EUROPEAN HIGH YIELD
Capital Goods	Wendel	DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Chemicals	Arxada	EUROPEAN HIGH YIELD
Chemicals	Bayer AG	EUROPEAN HIGH YIELD
Chemicals	Brenntag	EUROPEAN CONVERTIBLE
Chemicals	Evonik Industries AG	EUROPEAN CONVERTIBLE
Chemicals	Ineos	EUROPEAN HIGH YIELD
Chemicals	Italmatch Chemicals	EUROPEAN HIGH YIELD
Chemicals	Lenzing	EUROPEAN HIGH YIELD
Chemicals	Manuchar NV	EUROPEAN HIGH YIELD
Chemicals	Nobian	EUROPEAN HIGH YIELD
Chemicals	Oci	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Chemicals	SNF(Spcm)	EUROPEAN HIGH YIELD
Chemicals	The Chemours Company	EUROPEAN HIGH YIELD
Construction & Utilities	Consolis	EUROPEAN HIGH YIELD
Construction & Utilities	EDF	EUROPEAN CONVERTIBLE
Construction & Utilities	Falck Renewables SpA	EUROPEAN CONVERTIBLE
Construction & Utilities	Getlink	EUROPEAN HIGH YIELD
Construction & Utilities	Iberdrola	EUROPEAN CONVERTIBLE
Construction & Utilities	Neoen SA	EUROPEAN CONVERTIBLE
Construction & Utilities	OHLA	EUROPEAN HIGH YIELD
Construction & Utilities	Paprec	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Construction & Utilities	Sacyr	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Construction & Utilities	Umicore	EUROPEAN CONVERTIBLE
Construction & Utilities	Voltalia	EUROPEAN CONVERTIBLE
Construction & Utilities	Webuild (Salini Impregilo)	EUROPEAN HIGH YIELD
Consumer Goods	Birkenstock	EUROPEAN HIGH YIELD
Consumer Goods	Boparan	EUROPEAN HIGH YIELD
Consumer Goods	Coty	EUROPEAN HIGH YIELD
Consumer Goods	DAVIDE CAMPARI-MILANO N.V.	EUROPEAN CONVERTIBLE
Consumer Goods	Energizer	EUROPEAN HIGH YIELD
Consumer Goods	Firmenich	EUROPEAN HIGH YIELD
Consumer Goods	GN Store Nord	EUROPEAN CONVERTIBLE
Consumer Goods	Golden Goose	EUROPEAN HIGH YIELD
Consumer Goods	Ideal Standard	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Consumer Goods	L'Oréal	EUROPEAN CONVERTIBLE
Consumer Goods	Nomad Foods (Iglo)	EUROPEAN HIGH YIELD
Consumer Goods	Ontex	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Consumer Goods	Oriflame	EUROPEAN HIGH YIELD
Consumer Goods	Orpar	DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Consumer Goods	PUMA	EUROPEAN CONVERTIBLE
Consumer Goods	Philips Domestic Appliance	EUROPEAN HIGH YIELD
Consumer Goods	Premier Foods	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Consumer Goods	Remy Cointreau	DISCONTINUED CONVERT/EUROPEAN CONVERTIBLE
Consumer Goods	Tereos	EUROPEAN HIGH YIELD
Consumer Goods	adidas	DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Debt Collectors	Arrow Global	EUROPEAN HIGH YIELD
Debt Collectors	Axactor	EUROPEAN HIGH YIELD
Debt Collectors	Encore	EUROPEAN HIGH YIELD
Debt Collectors	IQera	EUROPEAN HIGH YIELD
Debt Collectors	Intrum Justitia	EUROPEAN HIGH YIELD
Debt Collectors	Lowell	EUROPEAN HIGH YIELD
Debt Collectors	doValue	EUROPEAN HIGH YIELD
Financières	Bnp Paribas	EUROPEAN CONVERTIBLE/DISCONTINUED HIGH YIELD
Gaming	888	EUROPEAN HIGH YIELD
Gaming	Cirsa	EUROPEAN HIGH YIELD
Gaming	Codere	EUROPEAN HIGH YIELD
Gaming	Gamenet	EUROPEAN HIGH YIELD
Gaming	IGT	EUROPEAN HIGH YIELD
Gaming	Intralot	EUROPEAN HIGH YIELD
Gaming	Playtech	DISCONTINUED CONVERT/EUROPEAN HIGH YIELD
Gaming	Sazka	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Gaming	Scientific Games	EUROPEAN HIGH YIELD
Gaming	Sisal	EUROPEAN HIGH YIELD
Gaming	Ubisoft	DISCONTINUED HIGH YIELD/DISCONTINUED CONVERT/EUROPEAN CONVERTIBLE
Healthcare	Advanz Pharma	EUROPEAN HIGH YIELD
Healthcare	Almirall	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Healthcare	Avantor	EUROPEAN HIGH YIELD
Healthcare	Biocartis Group	EUROPEAN CONVERTIBLE
Healthcare	Biocartis Group NV	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Healthcare	Biofarma	EUROPEAN HIGH YIELD
Healthcare	Biogroup	EUROPEAN HIGH YIELD
Healthcare	Catalent	EUROPEAN HIGH YIELD
Healthcare	Ceramtec	EUROPEAN HIGH YIELD
Healthcare	Cerba	EUROPEAN HIGH YIELD
Healthcare	Cheplapharm	EUROPEAN HIGH YIELD
Healthcare	DiaSorin SpA	EUROPEAN CONVERTIBLE
Healthcare	Doc Generici	EUROPEAN HIGH YIELD
Healthcare	Eurofins	EUROPEAN HIGH YIELD
Healthcare	Fabbrica Italiana Sintetici	EUROPEAN HIGH YIELD
Healthcare	Fresenius Medical Care	DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Healthcare	Fresenius Se	DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Healthcare	Grifols	EUROPEAN HIGH YIELD
Healthcare	Grünenthal	EUROPEAN HIGH YIELD
Healthcare	Iqvia	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Healthcare	Kedrion	EUROPEAN HIGH YIELD
Healthcare	Korian	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Healthcare	Lima	EUROPEAN HIGH YIELD
Healthcare	Marcolin	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Healthcare	Organon	EUROPEAN HIGH YIELD
Healthcare	Orpea	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Healthcare	Qiagen Fin	EUROPEAN CONVERTIBLE
Healthcare	Recordati	EUROPEAN HIGH YIELD
Healthcare	Stada	EUROPEAN HIGH YIELD
Healthcare	Teva	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Investment Holdings	Artemis	EUROPEAN CONVERTIBLE/DISCONTINUED HIGH YIELD
Investment Holdings	Groupe Bruxelles Lambert	EUROPEAN CONVERTIBLE
Media	ASR Media (AS Roma)	EUROPEAN HIGH YIELD
Media	Banijay	EUROPEAN HIGH YIELD
Media	Infopro Digital	EUROPEAN HIGH YIELD
Media	Inter Media	EUROPEAN HIGH YIELD
Media	Kantar	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Media	Loarre Investments	EUROPEAN HIGH YIELD
Media	Netflix	EUROPEAN HIGH YIELD
Metals	Constellium	EUROPEAN HIGH YIELD
Metals	Kloeckner & CO	EUROPEAN CONVERTIBLE/EUROPEAN HIGH YIELD
Metals	Novelis	EUROPEAN HIGH YIELD
Metals	Outokumpu	DISCONTINUED CONVERT/EUROPEAN CONVERTIBLE
Metals	Sgl Carbon	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Mining	Rag Stiftung	EUROPEAN CONVERTIBLE
Oil & Gas	Cgg	EUROPEAN HIGH YIELD
Oil & Gas	Fugro	EUROPEAN CONVERTIBLE/EUROPEAN HIGH YIELD
Oil & Gas	Galp Energia	EUROPEAN HIGH YIELD
Oil & Gas	Motor Oil Hellas	EUROPEAN HIGH YIELD
Oil & Gas	Repsol	EUROPEAN HIGH YIELD
Oil & Gas	Rubis Terminal	EUROPEAN HIGH YIELD
Oil & Gas	Vallourec	EUROPEAN HIGH YIELD
Oil & Gas	Wintershall Dea	EUROPEAN HIGH YIELD
Packaging	Ardagh Group	EUROPEAN HIGH YIELD
Packaging	Canpack	EUROPEAN HIGH YIELD
Packaging	Crown Holdings	EUROPEAN HIGH YIELD
Packaging	Guala Closures	EUROPEAN HIGH YIELD
Packaging	Huhtamaki	EUROPEAN HIGH YIELD
Packaging	Klöckner Pentaplast	EUROPEAN HIGH YIELD
Packaging	Owens Illinois	EUROPEAN HIGH YIELD
Packaging	Pro-Gest	EUROPEAN HIGH YIELD
Packaging	Progroup	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Packaging	Reno de Medici	EUROPEAN HIGH YIELD
Packaging	Schoeller Allibert	EUROPEAN HIGH YIELD
Packaging	Silgan	EUROPEAN HIGH YIELD
Packaging	Smurfit Kappa	DISCONTINUED HIGH YIELD/EUROPEAN HIGH YIELD
Packaging	Titan Holdings	EUROPEAN HIGH YIELD
Packaging	Trivium	EUROPEAN HIGH YIELD
Pulp & Paper	Ahlstrom	EUROPEAN HIGH YIELD
Pulp & Paper	Ence Energia Y Celulosa	EUROPEAN CONVERTIBLE
Pulp & Paper	Fedrigoni	EUROPEAN HIGH YIELD
Pulp & Paper	Graanul Invest	EUROPEAN HIGH YIELD
Pulp & Paper	Lecta	EUROPEAN HIGH YIELD
Pulp & Paper	Sappi	EUROPEAN HIGH YIELD
Pulp & Paper	Stora Enso	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Real Estate	Adler Group	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Real Estate	Adler Real Estate	EUROPEAN CONVERTIBLE
Real Estate	Aedas Homes	EUROPEAN HIGH YIELD
Real Estate	Corestate	EUROPEAN HIGH YIELD
Real Estate	Fastighets AB Balder	EUROPEAN CONVERTIBLE
Real Estate	Foncia	EUROPEAN HIGH YIELD
Real Estate	Heimstaden Bostad	EUROPEAN HIGH YIELD
Real Estate	Keepmoat	EUROPEAN HIGH YIELD
Real Estate	Miller Homes	EUROPEAN HIGH YIELD
Real Estate	Neinor Homes	EUROPEAN HIGH YIELD
Real Estate	Nexity	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Real Estate	PHM Group	EUROPEAN HIGH YIELD
Real Estate	Signa Development Selection	EUROPEAN HIGH YIELD
Real Estate	TAG Immobilien AG	EUROPEAN CONVERTIBLE
Real Estate	Unibail-Rodamco	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Real Estate	Via Celere	EUROPEAN HIGH YIELD
Retail	Alain Afflelou	EUROPEAN HIGH YIELD
Retail	Arcaplanet	EUROPEAN HIGH YIELD
Retail	BM European Value Retail	EUROPEAN HIGH YIELD
Retail	BestSecret	EUROPEAN HIGH YIELD
Retail	Burger King France	EUROPEAN HIGH YIELD
Retail	But	EUROPEAN HIGH YIELD
Retail	Casino Guichard-Perrachon	EUROPEAN HIGH YIELD
Retail	Cbr Fashion	EUROPEAN HIGH YIELD
Retail	Darty	DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Retail	Douglas	EUROPEAN HIGH YIELD
Retail	Dufry	EUROPEAN CONVERTIBLE/EUROPEAN HIGH YIELD
Retail	El Corte Ingles	EUROPEAN HIGH YIELD
Retail	Fnac Darty	EUROPEAN CONVERTIBLE/EUROPEAN HIGH YIELD
Retail	HSE24	EUROPEAN HIGH YIELD
Retail	Hema	EUROPEAN HIGH YIELD
Retail	Iceland Foods	EUROPEAN HIGH YIELD
Retail	International Design Group	EUROPEAN HIGH YIELD
Retail	Isabel Marant	EUROPEAN HIGH YIELD
Retail	Maisons Du Monde	EUROPEAN CONVERTIBLE
Retail	Matalan	EUROPEAN HIGH YIELD
Retail	Maxeda	EUROPEAN HIGH YIELD
Retail	Pernod Ricard	DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Retail	Picard	EUROPEAN HIGH YIELD
Retail	Punch Pubs	EUROPEAN HIGH YIELD
Retail	Rallye	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Retail	Samsonite	EUROPEAN HIGH YIELD
Retail	Stonegate	EUROPEAN HIGH YIELD
Retail	THOM Group	EUROPEAN HIGH YIELD
Retail	Telepizza	EUROPEAN HIGH YIELD
Retail	The Very Group	EUROPEAN HIGH YIELD
Retail	Zalando	EUROPEAN CONVERTIBLE
Services	APCOA	EUROPEAN HIGH YIELD
Services	Allied Universal	EUROPEAN HIGH YIELD
Services	Atalian	EUROPEAN HIGH YIELD
Services	Atos	DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Services	Bureau Veritas	DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Services	David Lloyd Leisure	EUROPEAN HIGH YIELD
Services	Delivery Hero SE	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Services	Elior	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Services	Elis	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Services	House of HR	EUROPEAN HIGH YIELD
Services	InPost	EUROPEAN HIGH YIELD
Services	Just Eat Takeaway.com N.V	EUROPEAN CONVERTIBLE
Services	Multiversity	EUROPEAN HIGH YIELD
Services	PeopleCert	EUROPEAN HIGH YIELD
Services	PureGym	EUROPEAN HIGH YIELD
Services	Rekeep	EUROPEAN HIGH YIELD
Services	Scan Global Logistics	EUROPEAN HIGH YIELD
Services	Selecta	EUROPEAN HIGH YIELD
Services	Sisal Pay	EUROPEAN HIGH YIELD
Services	Spie	DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Services	Verisure	EUROPEAN HIGH YIELD
Shipping	Cma Cgm	EUROPEAN HIGH YIELD
Shipping	Hapag-Lloyd	EUROPEAN HIGH YIELD
Technology	AMS	EUROPEAN CONVERTIBLE/EUROPEAN HIGH YIELD
Technology	Almaviva	EUROPEAN HIGH YIELD
Technology	Cedacri	EUROPEAN HIGH YIELD
Technology	Diebold Nixdorf	EUROPEAN HIGH YIELD
Technology	Engineering Group	EUROPEAN HIGH YIELD
Technology	Lutech	EUROPEAN HIGH YIELD
Technology	Nexi	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Technology	Paysafe	EUROPEAN HIGH YIELD
Technology	Soitec	EUROPEAN CONVERTIBLE
Technology	Teamsystem	EUROPEAN HIGH YIELD
Technology	Transcom	EUROPEAN HIGH YIELD
Technology	True Potential	EUROPEAN HIGH YIELD
Telecom	AT-T	EUROPEAN HIGH YIELD
Telecom	America Movil	DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Telecom	Cellnex telecom	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Telecom	Digi Communications	EUROPEAN HIGH YIELD
Telecom	Eircom	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Telecom	Eolo	EUROPEAN HIGH YIELD
Telecom	Iliad	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Telecom	MásMóvil	EUROPEAN HIGH YIELD
Telecom	Tdc	EUROPEAN HIGH YIELD
Telecom	Telecom Italia	EUROPEAN HIGH YIELD
Travel	Accor	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Travel	Air France - Klm	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Travel	Avis Budget	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Travel	Carnival Corporation & PLC	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Travel	Edreams Odigeo	EUROPEAN HIGH YIELD
Travel	Europcar	EUROPEAN HIGH YIELD
Travel	Finnair	EUROPEAN HIGH YIELD
Travel	Hertz	EUROPEAN HIGH YIELD
Travel	Hurtigruten	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD
Travel	Iag	EUROPEAN HIGH YIELD/EUROPEAN CONVERTIBLE
Travel	Lufthansa	EUROPEAN HIGH YIELD/DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Travel	Merlin Entertainments Plc	EUROPEAN HIGH YIELD
Travel	Nh Hotels	EUROPEAN HIGH YIELD
Travel	Sani Ikos	EUROPEAN HIGH YIELD
Travel	TUI Cruises	EUROPEAN HIGH YIELD
Travel	Tui Group	DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Travel	Tui Travel Plc	DISCONTINUED HIGH YIELD/EUROPEAN CONVERTIBLE
Travel	Wfs	EUROPEAN HIGH YIELD