bbi research

Here is a snippet from the last research comment from an analystnthat still maintains a buy on the stock


We understand these are difficult times for securityholders, however at current levels the security price is more or less at an option value for survival. We are firmly of the opinion, given the BBI corporate facility lock up is at 2.0x EBITDA/interest, BBI maintains significant head room over its debt covenants and will extend that headroom as asset sales progress. Despite the fact a credit rating downgrade by Moody's is a clear negative, it has no impact on cash flow and more importantly, all of BBI’s assets still carry “investment grade” credit ratings.