Why would you place a viable company trading 0.3 x book value into bankruptcy??? Lose/Lose.
PH is soon to be a hugely cashflow positive project worth upwards of 60c, the rest of the company is worth $1.00...even with slowdown.
I give insolvency risk a 10% chance,
Refinancing a 90% chance. This is not Babcock. With Billions in Debt.
The extension will be granted or debt holders lose everything.
Rest assured, I play the probabilities.
