|Bid||226.90 x 0|
|Ask||227.20 x 0|
|Day's Range||223.00 - 245.00|
|52 Week Range||200.60 - 710.20|
|Beta (5Y Monthly)||1.36|
|PE Ratio (TTM)||10.30|
|Earnings Date||Feb 27, 2020|
|Forward Dividend & Yield||0.90 (35.97%)|
|Ex-Dividend Date||Mar 05, 2020|
|1y Target Est||7.00|
(Bloomberg) -- Hundreds of high-risk companies in Europe need to repay or refinance nearly $100 billion in the coming months, a prospect that becomes more daunting by the day amid the relentless collapse in credit markets.From Germany’s Thyssenkrupp AG to Telecom Italia, around 600 European high-yield and non-rated bond borrowers have $92.5 billion bonds maturing by the end of 2021, a narrow window to get deals done. With investors running for the hills and the cost of raising funds soaring, that’s a big ask. As a result some companies are abandoning plans to raise debt on the bond market and exploring alternatives such as direct lending. One measure of high yield debt risk in Europe jumped to its highest level since 2012.Jaguar Land Rover, for example, is planning to use its cash reserves to pay its $500 million bond due this week. Commodity trading giant Trafigura might take that path as well with its two bonds amounting to 750 million euros ($850 million) due later this year, according to a spokesperson. Others, like Codere SA, are waiting for the storm to pass. The Spanish gaming company -- which has had to close its Italian bingo halls -- has two bonds due in November 2021 worth 800 million euros.Read more: Credit Cracks Widen With Boeing Loan Drawdown, Debt Deals Halted“Our plan is to refinance when a window in the market opens,” a company spokesperson wrote in an email. “We are working to be prepared but there is no doubt that the coronavirus and the uncertainty it has created in the market make it hard in the short term.” The firm’s liquidity position is good, the person added.Some companies took advantage of funding opportunities before the virus struck, like Italian infrastructure company Salini Impregilo SpA, which refinanced its 600 million euro bond due in June 2021 in January before any cases were confirmed in the country. The new notes due in 2027 have dropped 24 cents on the euro since issuance to 75 cents, according to data compiled by Bloomberg.Leveraged loans falling due in the coming 18 months are scarce, but printing inks firm Flint does need to tackle a looming maturity. Lenders agreed to extend its revolver to March 2021 to give it some breathing space, but the company has term loans worth 1.8 billion euros due in September next year, Bloomberg data show.“For firms that need extra liquidity, getting additional leeway from banks to roll over revolvers/draw on revolvers would be an option, as well as selling assets”, wrote Stephen Caprio, a UBS credit strategist, in an email. “But generally the expectation is that issuance markets will need to open up again, so firms can refinance and term out debt as needed.”\--With assistance from Ruth McGavin and Luca Casiraghi.To contact the reporter on this story: Irene García Pérez in London at email@example.comTo contact the editors responsible for this story: Vivianne Rodrigues at firstname.lastname@example.org, Bruce DouglasFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
A cyberattack that hit steel giant EVRAZ late Wednesday is impacting multiple facilities in North America — beyond the single plant in Canada that initial reports indicated had been affected.Patrick Waldron, a spokesperson for EVRAZ North America, would not confirm that the company shut down its plant in Saskatchewan but told FreightWaves the cyberattack had affected some operations at facilities in the U.S. and Canada.EVRAZ has six production sites in North America: two in the United States and four in Canada. Waldron would not detail the extent of the impact or reveal the locations but said the company is working to fix the problem "as quickly as possible.""We've been communicating with customers and supply chain partners about this incident and potential impact on operations," Waldron said.United Steel Workers reported on Thursday that EVRAZ had issued a temporary layoff notice at the Regina plant as part of a shutdown in response to the cyberattack.Trucking companies servicing the Regina plant have reported disruptions in freight flows."We've been affected big-time," Frank Silvestri, president of RemWan Carriers, a flat-deck carrier in Rock View, Alberta, told FreightWaves.RemWan, with a fleet of 40 trucks, moves about 100 loads per week for EVRAZ from its Canadian facilities. On Friday, Silvestri was looking for other freight to make up for the disruptions from Regina.While hopeful that EVRAZ resumes normal operations soon, Silvestri said he is worried that a protracted disruption might lead some drivers to find another carrier."If they're not getting a paycheck, they're looking for a new job," he said.Waldron would not confirm other media reports that EVRAZ had experienced a ransomware attack. He said there was no indication that any confidential information had been compromised.EVRAZ is one of the world's largest steel manufacturers. Founded by Russian billionaire Alexander Abramov, its global operations include Russia, Western and Eastern Europe, and South Africa.Image by skeeze from PixabaySee more from Benzinga * Climate Legislation Protests In Pacific Northwest Spotlight Activist Trucking Group * Heat Wave Pushing Florida Strawberries To Their Peak * Ransomware Hackers May Come For Owner-Operators Next(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Steel giant EVRAZ has shut down its plant in Regina, Canada, and temporarily laid off its workers after a ransomware attack reportedly hit its North American operations. The shutdown is expected to last at least three days. EVRAZ management told local officials from United Steel Workers that the problem is expected to be resolved by Monday.The Regina plant is among a cluster of facilities in the U.S. and Canada for EVRAZ North America. The plant ships out large quantities of steel plate, coil, pipe and tubing."It will be a pretty significant impact for us, as we do haul a lot of coil for them," a dispatcher at Langelaar Transport in Alberta told FreightWaves. "But it is what it is."A spokesperson for Chicago-based EVRAZ North America did not respond to FreightWaves' requests for comment about the cyberattack or its impacts.The Regina plant employs more than 1,000 people. The temporary layoffs began taking effect late Thursday."It looks pretty bad," Mike Day, president of United Steel Workers SW 5890, told FreightWaves.Founded by Russian billionaire Alexander Abramov, EVRAZ is one of the world's largest steel manufacturers. Its global operations include Russia, Western and Eastern Europe, and South Africa.Image by skeeze from PixabaySee more from Benzinga * Volumes Hit "Peak"-Type Levels – FreightWaves NOW * Robust Volumes In Major Markets; Food Buying Is Up * Weekend Winter Weather To Hit High-Volume Freight Markets(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll apply a...
LONDON MARKETS British stocks slumped on Monday in a broad-based retreat on worries over Middle East tensions. The U.K. FTSE 100 (UK:UKX) weakened 0.78% to 7562.72, with decliners outnumbering advancers by a 1589-to-590 margin.
EVRAZ plc (LON:EVR) shareholders might be concerned after seeing the share price drop 15% in the last quarter. But...
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of EVRAZ plc and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Moody's Investors Service (Moody's) has changed to positive from stable the outlook of EVRAZ plc (Evraz). Concurrently, Moody's has affirmed Evraz's Ba1 corporate family rating (CFR), Ba1-PD probability of default rating (PDR) and the Ba2 senior unsecured ratings of the notes issued by Evraz.