Moodys has given troubled Spanish renewable energy group Abengoa a small but much needed vote of confidence at a crucial stage in its fight for survival, saying its underlying operating business is still viable although the ratings agency also acknowledges that the company could still end up insolvent.
Abengoa spelled out earlier this week that it needs 826m of cash this year to stay on its feet, plus a further 304m in 2017. These sums dont include contributions from sales of assets.
In a note published on Friday, Moodys acknowledged the further sizeable liquidity injections that are needed on top of a debt restructuring, which still has not been agreed with lenders.
Abengoa sought creditor protection in November and is desperatel…
Read the full article at: http://www.ft.com/fastft/2016/02/19/abengoa-viable-but-insolvency-risk-remains-moodys/