The downgrade from Moody’s is a reaction to CONSEN not dealing with the $227m May 2026 SUN maturity yet. The Agency point out that

Management expects the impact of curtailments in Q3 (in T&T) will be reversed in Q4. Outside of the T&T Methanol business, results were at

Interesting colour, but nothing new here, Proman will not be repaying its loans from CONSEN anytime soon (as we expected). The $360m loan and $280m guarantee have

Proman is happy that CONSEN can export fertiliser to the US tariff-free. For the avoidance of doubt, this returns the

Last week, the US dropped the 15% tariff on fertiliser products from Trinidad and Tobago (T&T), which will protect the profitability of its

The downgrade from S&P reflects the same concerns that Moody’s showed. CEL favours supporting its parent's (Proman's) growth plans over

The cancellation of possible gas deals between Venezuela and Trinidad & Tobago poses no short-term risk to supplies of natural gas to

The tensions between the US and Venezuela are hurting Consolidated Energy (CONSEN) bonds. We think the concerns are overdone. Delays in

Bonds have softened recently, though without any notable new developments. Two minor news items may be affecting sentiment, but neither is

We have addressed many of the same points in the Moody's release in our recent investment memo. We expect the pricing

The ownership and operation of Natgasoline will be a priority for Consolidated Energy and Methanex, but not immediately. We expect the

The purchase of OCI’s 50% stake in Natgasoline will be completed on 27th June. We expect no change in ownership before 2026 bu

We estimate that the CONSOL stake in Natgasoline is worth around $1.1 billion. Additionally, CONSOL would receive compensation if its contract to

OCI wants to include its 50% stake in Natgasoline in the disposal of its methanol assets to Methanex. OCI has just received a ruling in its favour in the

The Fitch downgrade from BB- to B+ reflects the risks we highlighted in our investment memorandum. Consolidated Energy (CONSOL) operates in

OCI selling its methanol business to Methanex means ownership of the Natgasoline JV (operated by CEL) is under discussion. The Natgasoline plant cost around

Acquiring a field from Venezuela is still in the early stages. It would require export waivers from the US (the ultimate destination of much of