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    Eric Ballantine

    Director and senior analyst at CVC Credit Partners

    Eric Ballantine is a Director and senior analyst at CVC Credit Partners, specializing in liquid credit markets with over 15 years of industry experience. He is a member of the Liquid Credit team in New York, covering a wide spectrum of leveraged finance opportunities across North America and Europe, with principal focus on large-cap companies in diversified sectors. Ballantine joined CVC in 2007 after eight years at Credit Suisse, having built an extensive track record of credit research and portfolio management, though specific portfolio performance metrics or rankings are not publicly disclosed. He is recognized for his longstanding expertise in credit analysis and holds key industry credentials typical of senior credit professionals, although no public record details FINRA registration or securities licenses.

    Eric Ballantine's questions to HYSTER-YALE (HY) leadership

    Eric Ballantine's questions to HYSTER-YALE (HY) leadership • Q2 2025

    Question

    Eric Ballantine of CVC Credit Partners asked for details on the backlog's profitability mix amid tariff impacts, the specific components being sourced from China and India that are difficult to re-source, and the current competitive landscape, including whether competitors are acting rationally.

    Answer

    President & CEO Rajiv Prasad stated that pricing discipline remains strong but acknowledged the tariff dynamic is a temporary pressure on profitability. He explained that highly engineered components and high-capacity items like castings are the most difficult to move from China and India. Regarding competition, Mr. Prasad noted that traditional competitors remain disciplined, while Executive Chairman Alfred Rankin added that Chinese competitors, supported by their government, are being the most disruptive factor in the market.

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    Eric Ballantine's questions to HYSTER-YALE (HY) leadership • Q2 2025

    Question

    Eric Ballantine of CVC Credit Partners questioned the profitability mix of the order backlog, the specific types of components facing tariff-related sourcing challenges from China and India, and the overall rationality of the competitive landscape.

    Answer

    President & CEO Rajiv Prasad and SVP, CFO & Treasurer Scott Minder confirmed that pricing discipline remains strong, with average selling prices in the quarter up nearly 10% year-over-year, mitigating the risk of unprofitable backlog orders. Prasad detailed that highly engineered components and high-capacity items like castings are the most difficult to re-source quickly. Regarding competition, Prasad and Executive Chairman Alfred Rankin noted that while traditional competitors are disciplined, Chinese competitors, supported by their government, are being the most disruptive factor.

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