Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2 (1 Viewer)

captain sparrow

Forumer storico
Vallourec Bonds Near Record Lows as Research Note Flags Risks

By Marianna Aragao

(Bloomberg) --

Vallourec’s bonds decline across the board, with the senior unsecured notes due Oct. 2022 falling 5.4 points to 69.3 bid, according to CBBT prices at 12pm London time.

  • A Morgan Stanley equity research note on Jan. 24 said that an "end of year covenant gearing calculation exacerbates concern around the possibility of a covenant breach at end 2019"
    • The company will report 4Q results on Feb. 20
  • NOTE: Nov. 26, company said its liquidity situation is sound and that it would respect the banking covenant at end of 2019 based on current macroeconomic and market trends
  • NOTE: Nov. 26, S&PGR downgraded rating one notch to B- (negative), foreseeing tight headroom under the gearing covenant in the company’s key committed banks lines in 2019
    • Co. has EU2.15b of available long-term credit lines, primarily comprising committed RCFs maturing in 2020 and 2021. These facilities only contain a gearing covenant, the rating firm said
To contact the reporter on this story:
Marianna Aragao in London at [email protected]
 

corradotedeschi

Forumer storico
Vallourec Bonds Near Record Lows as Research Note Flags Risks

By Marianna Aragao

(Bloomberg) --

Vallourec’s bonds decline across the board, with the senior unsecured notes due Oct. 2022 falling 5.4 points to 69.3 bid, according to CBBT prices at 12pm London time.

  • A Morgan Stanley equity research note on Jan. 24 said that an "end of year covenant gearing calculation exacerbates concern around the possibility of a covenant breach at end 2019"
    • The company will report 4Q results on Feb. 20
  • NOTE: Nov. 26, company said its liquidity situation is sound and that it would respect the banking covenant at end of 2019 based on current macroeconomic and market trends
  • NOTE: Nov. 26, S&PGR downgraded rating one notch to B- (negative), foreseeing tight headroom under the gearing covenant in the company’s key committed banks lines in 2019
    • Co. has EU2.15b of available long-term credit lines, primarily comprising committed RCFs maturing in 2020 and 2021. These facilities only contain a gearing covenant, the rating firm said
To contact the reporter on this story:
Marianna Aragao in London at [email protected]

Tutto e' a rischio da quando si parla di recessione mondiale...
 

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