Abengoa

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Moody says continued uncertainty over Abengoa’s viability plan

While acknowledging that Spanish renewable energy and engineering firm Abengoa’s restructuring plan would ease its debt burden, Moody’s has cast doubts over whether it will be successful. Earlier this month, Abengoa reached a debt restructuring deal with its main creditors in an attempt to avoid Spain’s biggest ever bankruptcy. It had been in talks with lenders since November 2015 to reduce its over 9 billion euros debt pile.

 




Abengoa

Abengoa Is Saved By Its Creditor Banks

The demise of Abengoa, the Spanish engineering and renewable energy firm, would have been a massive blow for its creditor banks. So the government and the banks have been working on a solution since the company entered pre-insolvency proceedings. The deal agreed this week hands over the majority of Abengoa’s capital to its creditors.


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The Solution To Abengoa’s Problems Doesn’t Even Convince Analysts

The approval by Abengoa’s board for its viability plan led us to hope that it could be going in the right direction. But as the days pass, the balloon is beginning to deflate and the company, which was the first big Andalusian multinational, is now doing everything it can to avoid being engulfed in Spain’s biggest ever insolvency situation. But it’s not having much success.


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The toxic effect of Abengoa: markets worry about Spain’s companies

The global economy in general, and the Spanish economy in particular, are experiencing turbulent times. China, the emerging markets, raw materials, the weak recovery, inflation or exchange rates are entangled with the domestic problems of each individual country. In Spain, these are focused on a political map with a lot of question marks and a worrying level of private debt, which Abengoa’s crisis has accentuated.


Merlin Properties

Spain’s real estate sector wins a place in the Ibex

Abengoa’s expulsion from Spain’s Ibex 35, after finding itself on the brink of bankruptcy, has provoked a tough fight amongst companies and sectors which consider they have the right to belong to this exclusive index. One of the most active sectors is real estate, now recovering from its 2008 collapse.


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Abengoa: Another Story Of Sudden Insolvency

Fernando Barciela | Throughout this current year, 99 companies across the world have defaulted, the second highest figure in the decade after the 2009 crisis, according to S&P. Spanish firm Abengoa could be added to the list.


Abengoa/Atlantica Yield

Abengoa Faces Biggest Ever Insolvency Situation In Spain’s History

Spanish renewable energy and engineering group Abengoa is close to bankruptcy. The company, which has a debt level of € 6.283 billion, proposed a capital increase of 650 million euros and a financial adjustment. It also tried to negotiate with five banks and Spain’s government for a credit line. Finally, the company agreed to Basque steel maker Gestamp becoming a new shareholder. But this operation has now also failed.


No Picture

Today’s market chatter in Spain: Itinere, Abengoa, Inditex, and much more

MADRID | By Jaime Santisteban | Spanish Ibex 35 welcomes the week over 10,500 points. “Ukraine showdown and macro numbers will hatch investors’ attention,” Link experts point out. Bankia analysts “see the positive influence of Chinese government statement about share, bond and raw material markets supporting measures. Markets also await remaining corporate results and European countries inflation.” Last week’s Mr Draghi’s words were crucial to stop euro appreciation- the currency is likely to keep going down.