Incitec Pivot upgrades
On Tuesday, chemical agriculture company Incitec Pivot Limited (ASX: IPL) received an upgrade to its debt rating. We believe fertiliser prices have bottomed and combined with the debt re-rating, the company will generate solid earnings and improve its balance sheet. Shares in Incitec Pivot closed up 7.0% for the week. We own Incitec Pivot as a market-driven investment in WAM Leaders (ASX: WLE) and Century Australia (ASX: CYA).
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Matthew has more than 20 years’ experience in the investment industry working as both a portfolio manager and analyst. Prior to joining Wilson Asset Management in 2004, Matthew gained extensive large-cap experience in his previous role within Australian Executor Trustees (now part of Equity Trustees). Matthew is the Lead Portfolio Manager responsible for WAM Leaders Limited and Wilson Asset Management Leaders Fund.
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