Lucror Sees Value in Hopson Bonds After Moody’s Cuts Outlook
2014-06-04 04:48:04.704 GMT
By David Yong
* Hopson’s $300 million of 9.875% notes traded at 89.725 cents
in the dollar to yield 13.56% yesterday, Bloomberg-compiled
data show; Yield may drop toward 10% level, Lucror predicts
* Moody’s yesterday cut Hopson’s ratings outlook to negative
from stable, citing liquidity pressures and weak sales
* Lucror avoiding Hidili Industry’s distressed bonds due 2015
as China accelerates coal-mine closures and as possibility
of default or debt restructuring seems to be increasing
* Lucror expects most Bumi Resources bondholders to agree with
co.’s plan to extend debt maturity of convertible bonds due
to lack of better options and potential for coal price
recovery