Q1 was a lot weaker than expected operationally, and the bonds will be marked lower today. However, quarterly operating cash flow was
The upgrade from S&P is a minor positive for creditors, but most of the rationale behind the S&P change is already reflected in the
No surprises from Viridien, as the business generated cash and bought back bonds in 2025. It intends to do the same in 2026, assuming the
The financial update from Viridien for FY25 is slightly above our projections, with revenue of USD1,150m vs. our forecast of
If Viridien sells its Sensory equipment business, we estimate a valuation of around $170m - $200m (5.5x – 6.5x LTM EBITDA). We would expect some
