der Filter bei jedem funktioniert...
Mir sind, neben den kritischen, auch diese positiven Passagen im moodys statement aufgefallen:
"Moody's recognizes that the company maintains various means with which to strengthen its liquidity profile. For example, Steinhoff is seeking to improve credit insurance coverage, raise new credit facilities at its operating companies and repatriate cash proceeds from the sale of listed equity investments in South Africa. However, the timing and proceeds of these measures is uncertain at this time."
Zum Zeitpunkt des downgrades uncertain/unsicher
aber die Probleme sind doch gelöst.
"The rating also considers Steinhoff's other strengths, including its market share in the mass discount market, where it has been growing revenues. Specifically, the company's operational profile reflects its exposure to the better performing economies in Europe."
"The rating recognizes the financial flexibility offered by Steinhoff's listed investments and its predominantly unencumbered European property portfolio spanning retail, warehousing and manufacturing. However, under the current circumstances, Steinhoff may not be able to monetize these assets in a timely manner."
Aber wieso ich denke, dass moodys uns evtl. überraschen könnte ist dieser Absatz:
"Moody's review will focus on Steinhoff's liquidity profile and its ability to address debt obligations in the course of 2018. Its rating could come under further downward pressure if it cannot address these near term demands."
Sh hat die kurzfristigen Probleme unter Kontrolle und 2018 sieht von der Liquidität gesichert aus.
Wieder falsch zitiert?
www.moodys.com/research/...family-rating-rating-on--PR_377618
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