Antolin beat our expectations into year-end. Revenue was almost 10% better, and consequently, Q425 EBITDA margin improved
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Earlier this month, we commented on the appointment of FTI to advise the banks. Now, we are seeing that this will include an
Read MoreThe changes at SBB reflect its reality; it is now a holding company with interests in three Scandinavian real estate businesses. Currently, the valuations
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A number of you have enquired about the potential sale of Modulaire’s Australian business. Brookfield will be reluctant to sell the Australian business. They will only proceed if
Read MoreMoody’s has revised the outlook on AMS Osram’s B3 rating to positive, reflecting the company’s improving credit profile. The announced asset disposal, together with
Read MoreLawyers and financial advisers are already sharpening their pencils ahead of a restructuring proposal at Cerba. Anyone familiar with our analysis will recognise that
Read MoreHere it is, the second leg of the highly dilutive capital raise, by way of rights issue for €392m, following the first round of €110m that was shared
Read MoreFollowing its merger with Intelsat, the Luxembourg satellite operator is tendering for its outstanding subordinated perps, funded with a
Read MoreNo hockey stick. Details are scant this morning as the company published a one-page Q425 update and 2027 outlook on each of its two divisions,
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The downgrade of the SUNs to CCC by Fitch will preclude some ratings-limited investors from owning them. Fitch reflects many of
Read MoreThe Promissory Noteholders are clearly playing hardball, but would be significantly impaired if they triggered an uncontrolled liquidation of
Read MoreThe Three deal is part of the same broad strategy that prompted Telefonica/Liberty Global to buy Netomnia. Owning more of
Read MoreThe loss at arbitration should close the case over a road construction and maintenance contract in Kuwait. The
Read MoreWe had expected receipt of the $40m Kenya asset sale proceeds by end-June 2026. The earlier-than-expected receipt of
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Press reports that Lenders have appointed FTI as advisors is a logical next step, and we expect the noteholders to do the same. We are retaining our
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