Atos - comment
Given the bonds are trading in the 20s, the news that S&P has downgraded the bonds to CCC with a negative outlook is of no consequence. We are surprised however at the recovery rating of c.40%.
Given the bonds are trading in the 20s, the news that S&P has downgraded the bonds to CCC with a negative outlook is of no consequence. We are surprised however at the recovery rating of c.40%.