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65p almost!
(Sharecast News) - Analysts at Standard Poor's raised their rating on Aston Martin's long-term debt, telling clients the company was no longer vulnerable to a "liquidity crisis" over the next six to 12 months.
That followed a £688m capital raising round in the first half of 2020, the luxury sports car manufacturer's decision to draw down $68m in delayed draw notes and $20m of support from the British government's Coronavirus Large Business Interruption Loan Scheme (CLBILS).
Hence S&P's decision to raise the carmaker's long-term debt rating to CCC.
Nonetheless, the ratings agency kept its outloook for the rating at 'negative' on the expectation that Aston's free operating cash flow would remain "significantly negative" in 2020.
The company's FOCF was expected to fall by -£300m in 2020 as sales declined, despite the launch of its new sports utility vehicle, the DBX.
S&P added: "The negative outlook indicates that the economic uncertainty caused by the COVID-19 pandemic still affects the group.
"It has subdued sales and production rates, as well as continued high cash burn. We could lower the rating if we consider a default inevitable within six months."
As of 1539 BST, shares of Aston Martin were 4.51% higher to 63.75p.
Another tickle at 64p ........ nice
Dimi's post 10:58am:
Today it must still go down to about 60/61p...
Then we have again a rise to 64p (maybe today)!
Should call you DimiTheCrystalBall - good shout mate
Nice find 3300 :o)
Good luck Noobz, don't forget about us!
There he is! Welcome back MrNation
I had just logged in to start a thread with the same title!
Dimi, you seem to be hitting the nail on the head regularly now, keep up the good work!
Nice one Pretender, copied and pasted as link didn't work:
Italy's Gazzetta dello Sport claims that Sebastian Vettel will swap red for pink next season, the German having reportedly agreed to a multi-year deal with Aston Martin Racing.
Speculation about Vettel's future ramped up a notch last month following rumors of talks taking place between the four-time world champion and Racing Point.
Team boss Otmar Szafnauer repeatedly said the team had contracts with both its drivers for 2021 and intended to honour those deals, while also acknowledging the Silverstone-based outfit's interest in Vettel.
Perez approached by rival team amid Vettel rumors
Lance Stroll's seat at Racing Point is safe for obvious reasons while an exit clause or special provisions in Sergio Perez's contract may have allowed the team to terminate the deal prematurely.
La Gazzetta dello Sport claims that Vettel's move to Aston Martin Racing was on the verge of being announced but was capped out of courtesy for Perez who tested positive last week for COVID-19.
However, the deal is as good as done according to the Italian newspaper.
Vettel's hiring was obviously raise the profile of the team and add a coat of lustre to the Aston Martin brand which executive chairman and Racing Point owner Lawrence Stroll will shift to the fast lane next year.
Mercedes boss Toto Wolff, a close friend of Stroll who also holds a stake in the prestigious luxury automaker commented last weekend on the rumors of Perez's departure and Vettel's arrival in the pink squad.
"Replacing Perez is not an easy decision," said Wolff. "But Germany is the second most important market for Aston Martin. The deal with Vettel would be great for them."
It's unlikely Perez will return to duty for this weekend's 70th Anniversary Grand Prix at Silverstone although Racing Point is still awaiting clarity on the Mexican's case, but Nico Hulkenberg is set to substitute for Perez again. It is therefore uncertain when Racing Point will announce Vettel's multi-year deal.
But in all likelihood, the 33-year-old 53-time Grand Prix winner will be remaining on the grid in 2021.
Ooh Isaly whiskies. Now you're talking! We spent a long weekend there last year doing distillery tours etc. Can't wait to go again!
Hard to pick a favourite for me, preferences are a daily changing thing :o)
I have a nice selection to choose from, though I keep coming back to the heavier hitters, Lagavulin & Laphroaig
If you're naive Rox, then so am I ;o)
From what I've been gathering over the last few weeks you might need to wait till the 10th August for a decent bit of DBX news, but it's got to be good surely
CEO starts tomorrow Bekind, next week should be quite enjoyable here
Agreed S I D.
Sorry folks, reacted to the daftness. Normal service will now resume!
And now posts are being deleted
Thanks for the reply Doily,
I based my statement on your own post on the 5th July (your 1st ever post): "Celebrating lockdown over After selling my car before lock up decided to buy a new AM", sorry if I misinterpreted that, I must be a little deaf in that ear ???
Please feel free to direct me to any post I made claiming 1 million shares (!) I've always been happy to honestly declare a holding of just shy of 24k shares at 43.8p average, not that that should affect anyone?
Also FYI, I'm self employed, how do you propose I prove that to you, even if I wanted to?
Like playing whack-a-mole LMAO
And with that, I'M OFF TO THE BEACH FOR A SWIM MAGGOTS
LoL
Rox, it's a play on the 'Black Lives Matter' acronym BLM - in memory of one of your supposed previous alter ego's 'WG' (LMAO)
WGLM - White Ghost Lives Matter
Doily, for all your "calling BS" etc etc, you're also very full of it yourself.
'Don't throw stones in a greenhouse' springs to mind.............
Absolutely 33 ;o) AMLM