And his recommendation is still hold. Can't think of many stocks...

And his recommendation is still hold. Can't think of many stocks I'd want to hold with a predicted 30% downside.

Anyway his take on the deal is pretty positive. No one was really counting on Euroports dealing with any of the corporate level debt, so sorting out the immediate threat is significant. A potential default at asset level in a couple of years time is a relatively small issue compared to the immediate issues BBI has.