Electric Utilities: Thus Far a Relative Safe Haven [View article]
Hi Bosun---I am a lucky real estate appraiser---haven't touched business from sub prime lenders since 2003. In fact mostly doing estate and legal work now.
On Nov 20 07:53 AM bosun.j wrote:
> One must ask whether these utilities will continue to operate when > they can no longer afford, or find the credit for that matter, to > purchase the coal, gas or oil they need to generate electricity? > > > This guy is a real estate appraiser. Can you say sub-prime?
A couple of random items here. Time charters are not worth much if the company that has chartered the vessels has gone bankrupt--and a number of them have already. And secondly most of the covenants of the loans on these ships have a provision that would put companies in dafault if their asset value falls below a certain percentage of carrying value--meaning they would need to put up more money to stay out of default. Anecdotal evidence is that ships are now selling at 55% of book
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Latest | Highest ratedElectric Utilities: Thus Far a Relative Safe Haven [View article]
On Nov 20 07:53 AM bosun.j wrote:
> One must ask whether these utilities will continue to operate when
> they can no longer afford, or find the credit for that matter, to
> purchase the coal, gas or oil they need to generate electricity?
>
>
> This guy is a real estate appraiser. Can you say sub-prime?
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www.providentenergy.co...