The closure of the Dolton plant will not have a major impact on Ardagh’s business, but it does underline that the weakness in glass packaging in the US is
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A couple of takeaways from the Emeis (Orpea) numbers this morning relevant to Clariane. Price increases will likely be more subdued in FY25 across the
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Adding some follow-ups to our call yesterday, we can confirm, IM Group, the Issuer, is the holder of the brand. This was the result of the IM Re
Read MoreThe impact of Avian Flu on Boparan is small so far. In Norfolk, four farms have reported cases and a handful of new control zones have been set up; the control zones
Read MoreRatings at this stage are secondary, but interestingly, and perhaps rightly, S&P do not care about grace period extensions. The SSNs have now been
Read MoreFollowing Graanul’s trading statement earlier this week, the Company announced investor calls/Roadshow next week. Register for the call https://evercall.co/oacc/53645 on
Read MoreThe company has an equal pay case similar to ASDA. If the workers are successful, we estimate the potential costs of £150m -
Read MoreThe lost equal pay case (subject to appeal) is a negative for creditors but is manageable for the company. As ASDA will appeal the judgement, there is no
Read MoreRahul Dhir, the CEO, is looking for a quicker exit than we anticipated, as he is resigning from the Board on February 14th. Tullow continues to
Read MoreFlora has launched a process to reprice its $ Term Loan which currently pays S + 425bps. As part of the transaction, Flora has released some
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This is the crucial week, with the sanction hearing scheduled for today through Wednesday. We are highly confident the A-Plan will sail through, as
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Graanul released a decent trading statement for FY24 but the focus will remain on its ability to refinance its 2026 bond maturities. Leverage remains at
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If OHLA has secured the full €80m sought in its Rights Issue, this will increase the bond redemptions from €91m to €140m. We have been
Read MoreOCI 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
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Our projections for net debt was $1.5bn, $100m higher than Tullow’s own guidance in November. Now, Tullow is guiding $1.45bn, splitting the difference, with
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Two developments stand out this morning: Deleveraging (on a Cash EBITDA basis, but never mind) will take longer - more in line with our projections and
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