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ABGSC Credit Research ... (+2)
  • ABGSC Credit Research
  • Glenn Kringhaug
ABGSC Credit Research ... (+2)
  • ABGSC Credit Research
  • Glenn Kringhaug

Was in covenant breach already in Q2

Value-adjusted equity ratio slightly below covenant in Q2. Liquidity was decent in Q2, but was drained after quarter-end. Several measures to find a long-term sustainable solution.

ABGSC Credit Research ... (+2)
  • ABGSC Credit Research
  • Glenn Kringhaug

Seems bad, but it will land on its feet

Q4 was better than feared, the outlook is weak, but the credit remains attractive

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