Posts tagged REKEEP
Rekeep - comment

S&P reaffirmed Rekeep’s rating at B, but kept its outlook on Negative.  The reasons quoted by the S&P analyst echos comments we have made in the past; a slightly improving

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Rekeep - comment

The Company continues to manage its liquidity and significant working capital as it aims to deleverage before a refinancing.  Management again mentioned the potential for asset sale to aid debt reduction.  Rekeep has rearranged

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Rekeep - Recent weakness justified?

Please find our updated Rekeep model here. 

Post the Q2 numbers, Rekeep bonds have traded down, widening by 100-150bps as investors show some concerns regarding tender levels, working capital movement, loss of Saudi contract and the level of debt associated with factoring facilities.

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Tomás MannionREKEEP
Rekeep - massaging the working capital

Please find our updated model here.

We are trying to rearrange a call with Rekeep management, but in the meantime, we have updated our model for Q1 numbers. There is no change to our model from our previous and we remain comfortable with our 3% long position in the Rekeep Senior Secured Notes.

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