Q4 was another good report from Aker. The balance sheet continues to be rock-solid, the upstream dividends were record-high and given the NOK 6.6bn liquidity reserve, we expect AKER10 and AKER13 to be redeemed at maturity. One of the key credit risks in our view is the opportunistic investment strategy with the purchase of ~23% of REC Silicon being one example hereof, but the overall credit case remains intact; market perform reiterated.
17 Feb 2020
Liquidity reserve covers all outstanding bonds
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Liquidity reserve covers all outstanding bonds
Q4 was another good report from Aker. The balance sheet continues to be rock-solid, the upstream dividends were record-high and given the NOK 6.6bn liquidity reserve, we expect AKER10 and AKER13 to be redeemed at maturity. One of the key credit risks in our view is the opportunistic investment strategy with the purchase of ~23% of REC Silicon being one example hereof, but the overall credit case remains intact; market perform reiterated.