The refurbishment of the Femina building is a bigger job than we have seen Vivion execute recently. However, the project is a significant one
Read MoreCPI will need to regain an IG rating to issue new hybrids, but this will require two things at a minimum. Firstly, an LTV of 40% (currently 50%) will be necessary. This will
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The German wood panel manufacturer reported Q3 results which still reflected the downturn in the German construction industry with the only positive news that
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Atalian Revenue and EBITDA were in line with our estimates, but the operating environment is difficult, and there is little reason to believe it will improve
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The Estonian wood pellet producer reported Q3 2024 revenues of €103.9. million (which was below our expectations of €127 million for the quarter.) Q3 EBITDA was
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Emeria delivered solid operating performance, but very much underwhelmed with undiminished WC and thus lower liquidity than we had
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If Fir Tree wins the litigation to accelerate the EMTN notes, SBB would immediately have to file for court protection as all EMTN holders
Read MoreThe proceeds from the CHUM sale form part of the lock-up agreement with creditors, so the arrival of the cash is another step in
Read MoreMorrisons pivoting towards online order fulfilment via store picking is a negative for Ocado but partly reflects Morrison’s need to utilise its largely
Read MoreAllan Leighton has suggested that he may appoint a CEO who is not a traditional grocer, and the attached list has only one
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All eyes are on the restructuring, but the operating results published late last night were marginally below our expectations. Given the distractions of
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Becoming uncomfortably normal, SFR France held a curtailed conference call post their numbers, again not allowing any questions. The guidance for
Read MoreSSN holders have realised their interests do not align with SUN holders. We have been puzzled at the level of cooperation between debt classes, and now
Read MoreBondholder approval to scrap the partial redemption was inevitable. Accentro doesn’t have the money right now, and the proposed
Read MoreThe ransomware attack on a supply chain IT provider will have a short-term impact, and not all costs will be recoverable. We expect the cash cost to
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Without another Balance Sheet Velocity (asset sale/layering) transaction, Cash EBITDA leverage is naturally creeping up. However, we have not been
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Adler, now under Karl Reinitzhuber, are out this morning with a presentation that largely only documents the restructuring we all have already
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Production, as always, is the key. Tullow Oil released its November trading statement confirming its full-year guidance. But behind the headline, there are
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