Report
CMA-CGM : Chartering troubled waters
Following mixed results in Q1 2018 and, more importantly, our expectation that the deleveraging process will be slower than originally anticipated, we are cutting our credit opinion to Stable. Although we do not foresee any improvements in Q2 2018 (results due out in early September should be "similar" to those in Q1 2018, whilst gearing should rise right up to the 130% limit), this opinion takes into account management's forecast of a recovery in Q3 2018 thanks to a market rebal...
Provider
Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Delphine Chauvin
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