In the wake of third-quarter results last year, we had almost forgotten that financial distress was mounting at France’s CMA CGM.
Not long ago, its traded debt rallied and with the allure of capital appreciation on the cards, the bulls were almost prepared to suggest the crisis of confidence was over in the bond market for the debt-laden carrier.
However, what the coronavirus crisis has done in the past three weeks is to …
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Source: The Loadstar