The document provides a financial analysis and investment recommendation for Synchrony Financial (SYF) bonds. It suggests buying SYF 3.0 2019 bonds due to attractive spreads compared to the investment-grade universe. The analysis highlights Synchrony's consumer finance business, its divestment from GE Capital, and the strong asset quality of its loans. The document also discusses the company's funding structure and potential risks related to customer credit quality.
documents/EFTA01378319.pdf
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