Braemar Hotels & Resorts operates in luxury hotel sector with high leverage, low liquidity, and significant operational risk.

Ares Capital's lower exposure to floating-rate debt and meaningful equity investments help stabilize income despite falling ...

We believe Credit Agricole S.A. can earn a midcycle return on tangible equity of around 9%, slightly below of our 10% cost of equity assumption for Credit Agricole S.A. and below its 12% 2025 target.