5 Comments

I liked the article. That bull graphic looks like it needs some work. I rendered some alternatives for you. Feel free to use commercially, no citation necessary:

https://i.ibb.co/Y3R159H/image.png

https://i.ibb.co/2v4Z39Z/image.png

https://i.ibb.co/2jnm313/image.png

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author

Your sick bull game is much stronger than mine. Follow you on SA as well, enjoy your work and thanks for reading!

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These guys look very leveraged. Any comment on the debt maturity schedule, and what operating income might look like when that debt has to be refinanced?

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author

Thanks for commenting! So they don't seem overly leveraged to me, they're sitting at 2.7x net debt/EBITDA which is in line historically, and more than half of the £16 billion is due 3+ years out, so not a huge concern in my opinion.

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