Report
Tony Lebon

Nyrstar : A risk/reward profile that is not attractive enough in our view

Though Nyrstar’s credit metrics will improve significantly in the next two years, there are still some uncertainties at the moment in our view: the liquidity risk (not enough liquidity to cover the repayment of the EUR 350m straight bond due 2019; a new refinancing operation will therefore be needed), the reaction of S&P with regards to credit metrics that would not meet the criteria (adjusted leverage below 5x) for a B- rating at the end of this year, the execution on Port Pirie...
Underlying
Nyrstar

Provider
ODDO BHF
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.

Analysts
Tony Lebon

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