Analyst Research Report Snapshot

Title:

ABLON GROUP - CLARITY REQUIRED ON DEBT

Price:

$10.00

Provider:

Edison Investment Research

Date:

25 May 2012

Pages:

2

Type:

AcrobatPDF

Companies referenced:

ABL.L

Available for Immediate Download
Summary:

Portfolio operational performance (net rents and occupancy) for January to mid-May was relatively stable, despite an uncertain economic backdrop for key markets. This backdrop is unlikely to ease until there is more certainty for the eurozone and its banks. With respect to the banking situation, six group facilities (total €36.6m) past formal expiry dates are yet to be extended. Negotiations are affected by the fact that its major lender, Volksbank, is undergoing restructuring and is 43.3% held by the Austrian state. Ablon’s board expressed confidence that it will agree terms to prolong loans with new bank management as before, and aims to extend terms beyond the usual 12 months. Volksbank provides 57% of Ablon’s debt and has c 24% of its equity.

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