Intrum - comment

Shares dropped yesterday, apparently on the news at the AGM that the company would not be paying a dividend. While we are still wondering if Intrum can carry its debt burden sustainably, we are slightly incredulous about shareholder expectations here. The negative move in the shares should in theory be mirrored by a minor positive in the bonds, and we think we are seeing an overall friendly 1-point move this morning, but that might as well have to do with markets overall.