RE:RE:Taking it in the ChinYou realize the 350MM issuance was positive right? The company had a HUGE liquidity issue. Note liquidity does not equal insolvency but it can lead to it very very quickly.
The company is NOT insolvent and generates enough FCF. The company was illiquid before the issue when comparing against current liabilities.
I agree with you on the cable rate (GBPUSD). That will weigh on earnings. Although I modeled it at 1.21 and numbers looked fine.