The lead story in the FT this morning refers to the dilemmas of the UK government and whether to support Tata Motors in its decision to
Read MoreThe CoCom has agreed to postpone the implementation deadline under the LUA to April 13th as the lapses of the Bridge maturity yesterday provides the
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Aston Martin's results were a bit of a curate’s egg. However, our expectation that Aston Martin has sufficient liquidity is supported by these results and 2023 guidance. The bonds ar
Read MoreThe plan meetings have been set to commence at 12pm on March 16th, which is also the new deadline for being eligible to receive the lockup
Read MoreThe Accentro restructuring is progressing, but as usual there are layers. The fact that Accentro has mentioned in a regulatory release issues in
Read MoreDorian Lowell from Gleacher Shacklock held an open conference call yesterday discussing alternative options to the current Orpea restructuring proposal. This is part of the Unsecured Creditors Negotiating Group (UCNG) and ultimately they are
Read MoreWe sound very much like a broken record when it comes to reporting INTU Debentures and INTU SGS numbers. There are no revised third-party valuations yet, but underlying the valuations is higher rent collection c.98% versus
Read MoreCasino released just their headline Q4 and FY22 sales numbers, which on the face of them are slightly ahead of our expectations. But without any margin details, it is
Read MoreOcado is a jam-tomorrow story and success will sit on the shoulders of delivery in the international business. Weakness in the FY22 results of the
Read MoreTullow have appointed a new non-executive Director to the Board. Roald Goethe, who has held senior positions with Trafigura Group, has been appointed with
Read MoreThe current strength in the after-sales market in the US is a result of production volumes at the OEMs. Again, we are hearing of further disruptions in
Read MoreThe reduction in the spread between branded and value (own brand) goods is a natural response to inflationary pressures. The pressure on the
Read MoreWe are unsure if its bravery or foolishness, but Takko have a new Chief Information Officer. With his employer headed for a restructuring that
Read MoreSteinhoff have sent their Q1 sales update through December. We’ve had some of the subsidiary updates already but in total, Pepco continues to
Read MoreWhat works once works twice? Ghosts of Galapagos are reappearing. Back when the German heat exchangers group sought to undergo
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Amigo has not yet secured sufficient commitments for its equity raise. An orderly wind down, with bonds being repaid at par (current trading price 96p/£), looks
Read MoreQ422 numbers in line with our model. VMED 02 says that 30% of the £540m synergies have been achieved. Company EBITDA guidance for
Read MoreThe Conciliation Procedure has been extended for an additional one month at the request of the Conciliator (Madame Bourbouloux) to 25th March. Note it is
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