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Mobico (MCGLN; Baa3 on review for downgrade/NR/BBB-) 1H Earnings call

TRANSPORTATION

Below from today's earnings call;

"So no formal change to the guidance, but we're very focused on deleverage and we'll be creating as much headroom as possible. It's probably also worth saying that we intend to retain the hybrid debt instrument and therefore that gives us the flexibility that we need, although longer-term we'll look at the cost of debt and of course the covenant measures that accompany debt(ph). Thank you."


£ Perp's are +0.6pts at 92.5.

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