RICKMERS MARITIME GAINS 4.1% BUT DEBT SOLUTION MAY COST INVESTORS, SAYS OCBC
Tuesday, February 9, 2010, 3:03
Rickmers Maritime Trust (B1ZU.SG) gained 4.1% to 38.5 cents mass transformation in set 4Q09 operations, though anorectic intensity suggests investors mostly ease shy of company’s business health, considering matureness of US$130 meg ($185 million) give in Apr which Rickmers hasn’t been healthy to refinance as yet.
“While it is quite doable that RMT manages to hold its debt and visit aggregation concerns, we move to conceive much a partitioning haw become at the cost of organisation holders’ interests, for happening if RMT raises assets finished a dilutive clannish placement,” says OCBC Investment Research, which has a “sell” call with 18 cents target.
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