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12%), BCS GM argues, but on the other it would limit its future development options and cash generating ability. The analysts thus see the sale as negative for the name and maintain a Sell recommendation on Mechel’s shares. In 2019 Mechel still carried over $6bn of debt (net debt/Ebitda of more than 7x) and renewed negotiations with its main creditor banks, doubting its ability to service debt in 2020.
95 RUSSIA Country Report February 2020 www.intellinews.com
