Credit investors respond as Abengoa announces recovery plan

By Jon Close

Friday, August 14, 2015

Abengoa has been one of the most actively traded names in European credit in recent weeks with the energy firm's credit default swaps having blown out. However, a restructuring plan is said to have eased credit investor worries.

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TAGS: Distressed debt

Comment by: Anonymous. Posted 8 years ago [2015-08-18 00:18:44]

Credit investors are paid to be skeptics! Here we have an actively traded credit with CDS spreads fluttering above and below 5,000 bps pa! On top of that, the company "has suggested it can raise" significant equity and "asset sales have been planned" in 7 months time. I find the reported optimism to be either heroic or misguided.

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