Consolidated Energy - comment

We have addressed many of the same points in Moody's release in our recent investment memo. We expect the pricing environment for Consolidated to be supportive for the rest of the year, with leverage reducing through 2025/26. Consolidated's Liquidity is adequate and will improve over the rest of 2025.

https://www.moodys.com/research/Moodys-Ratings-downgrades-Consolidated-Energy-Limited-to-B3-changes-outlook-Rating-Action--PR_509663