OHLA - comment
The two-month due diligence period demanded by Atitlan is a negative for OHLA creditors as it creates further uncertainty. The Amodio family is trying to cobble together other investors for its plan, but they are not there yet. Atitlan has now bypassed the Amodio family and is pitching its deal directly to the board. It is an aggressive move but probably the only way their deal gets backing from the independent directors. The lack of clarity and the delays are prompting us to review our long position in the bonds.