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re: Official Erin Energy (ERN) thread

Posted on 4/4/16 at 12:28 pm to
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10407 posts
Posted on 4/4/16 at 12:28 pm to
I bought some additional today as well. Strange pricing action., The announcement of the intervention vessel was good news, and the price dropped.

I understand the concern today about debt restructure. But really, given most of the real debt is payable to either Allied or Kase, and not immediately due, it sounded like this could also be considered good news. They seems t get along fine with Zenith. Or if not good news, maybe a better way to phrase it is not terrible news.

Posted by LSURussian
Member since Feb 2005
128589 posts
Posted on 4/4/16 at 1:02 pm to
quote:

I understand the concern today about debt restructure.
it sounded like this could also be considered good news.
You're joking, right?

A company telling its bank it can't make its principal payment and asks to be given 90 days to come up with a revised repayment plan is NEVER good news.

It means the bank has likely classified the loan as non-performing and must add to its loan loss provision to cover an anticipated write off of part or all of the loan.
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