Concerning the Romanian steel companies. Do you know how much debt these companies carried? I recently read that two of them are insolvent. I'm trying to figure out Mechel's current debt level after they sell their ferroalloy business to Glencore for 300-500mil. I know they recently bought a port and plan on selling electricity assets in Bulgaria which is a money loser.
Steel is Mechel's largest asset then mining by revenue, but is also the biggest money loser.
1. What are their earnings estimates and chance of bankruptcy?
2. Do preferred have preferred liquidation rights?
3. I believe they have a B+ credit rating. Does anyone know the dates the bonds are due?