Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 1

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Novasep's B rating affirmed by S&P
(ADPnews) - Jan 10, 2011 - S&P today maintained its B long-term corporate credit rating with a "negative" outlook on French pharmaceutical services firm Novasep Holding SAS.



The rating was also removed from "negative" watch, which originated on September 17, 2010.



The rating action follows company's disclosure in December regarding latest operating trends and new orders.







While lower demand for its synthesis projects and significant rise in leverage have dampened Novasep's 2010 results, the company nabbed three new large contracts in the third quarter alone prompting expectations of some margins and credit metrics improvement in 2011, the service noted.



Besides, Novasep's recent conversion of its payment-in-kind shareholder loan into equity is a sign of the ongoing support of its private-equity shareholder Gilde Partners, which partly offsets its weaker 2010 performance.



The ratings incorporate the company's highly leveraged financial profile after its 2007 leveraged buyout and its "fair" business risk profile, backed by its relatively high margins.



At the same time, the "negative" outlook reflects Novasep's weakened leverage in 2010 and the more time it needs to cut its debt despite the good long-term prospects for the life science outsourcing sector.


Rating agency website: www.standardandpoors.com
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Novasep's B rating affirmed by S&P
(ADPnews) - Jan 10, 2011 - S&P today maintained its B long-term corporate credit rating with a "negative" outlook on French pharmaceutical services firm Novasep Holding SAS.



The rating was also removed from "negative" watch, which originated on September 17, 2010.



The rating action follows company's disclosure in December regarding latest operating trends and new orders.







While lower demand for its synthesis projects and significant rise in leverage have dampened Novasep's 2010 results, the company nabbed three new large contracts in the third quarter alone prompting expectations of some margins and credit metrics improvement in 2011, the service noted.



Besides, Novasep's recent conversion of its payment-in-kind shareholder loan into equity is a sign of the ongoing support of its private-equity shareholder Gilde Partners, which partly offsets its weaker 2010 performance.



The ratings incorporate the company's highly leveraged financial profile after its 2007 leveraged buyout and its "fair" business risk profile, backed by its relatively high margins.



At the same time, the "negative" outlook reflects Novasep's weakened leverage in 2010 and the more time it needs to cut its debt despite the good long-term prospects for the life science outsourcing sector.


Rating agency website: www.standardandpoors.com
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Ha qualche bond questa novasep?
 
a naso direi che non ha pagato la cedola di gennaio.se trovate qualcosa scrivetelo.comunque è un'emissione minuscola di 12,5 milioni e secondo me non si può prendere(per fortuna)
Devo dire che il tuo naso funziona bene :)
Pasto risposta IR
Dear xxx,

wir beziehen uns auf Ihre Anfrage bezüglich der Zinszahlung für das 4. Quartal 2010 für die Hypothekenanleihe der GRE AG (DE000A0LDY81). Die Zinszahlung musste leider kurzfristig verschoben werden. Dafür entschuldigen wir uns.

Wir verhandeln im Moment einen Vertrag für die Refinanzierung von dinglich gesicherten Forderungen, die von der Gebhard Real Estate AG zwangsweise eingetrieben werden müssen. Leider hat sich dadurch die Verzögerung ergeben. Hoffen aber, dass wir noch im Laufe dieser, spätestens nächster Woche den Vertrag unterschreiben können und damit auch die notwendige Liquidität erhalten. Vorsichtshalber haben wir jetzt auch noch mit einem weiteren Investor Kontakt aufgenommen und für diese Woche ein Gespräch vereinbart, um eine schnelle Lösung zu erreichen.

Wir bedauern die Verzögerung und bitten nochmals um Entschuldigung und Ihr Verständnis. Seien Sie versichert, dass wir Alles unternehmen, um eine schnelle Lösung herbeizuführen.

Mit freundlichen Grüßen

Gebhard Real Estate AG
Kurfürstendamm 38/39
10719 Berlin

Anleiheteam

E-Mail: anleihe@gebhardrealestate.de
======================
Sitz der Gesellschaft: Berlin
AG Charlottenburg HRB 101431B

Traduzione
Caro xxx,

Ci riferiamo alla richiesta di pagamento degli interessi, il 4 Trimestre del 2010 per il mutuo ipotecario l'AG GRE (DE000A0LDY81). Il pagamento di interessi dovuto essere rinviata a breve termine. Per questo ci scusiamo.

Attualmente stiamo negoziando un accordo per il rifinanziamento di un immobile crediti garantiti che devono essere recuperati con la forza Gebhard Real Estate AG. Purtroppo, questo causa il ritardo. Ma speriamo che nel corso di questa, al più tardi la prossima settimana per firmare il contratto e quindi ricevere la liquidità necessaria. Come precauzione, abbiamo inserito anche un contatto di altri investitori e questa settimana hanno concordato un incontro per raggiungere una soluzione rapida.

Ci scusiamo per il ritardo e ci scusiamo di nuovo e di comprensione. Siate certi che noi facciamo tutto il possibile per giungere ad una soluzione rapida.

Cordiali saluti,

Gebhard Real Estate AG
Kurfürstendamm 38/39
10719 Berlin

Bond Team

E-mail: anleihe@gebhardrealestate.de
======================
Sede centrale: Berlino
AG Charlottenburg HRB 101431B
 
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