Mechel PAO Preferred (MTL-)

[rosen62]

Not a huge position. Just a starter.

Debtor in possession financing is in conflict with the current waiver of covenants. Why would the company be given waivers to immediately after enter a situation that carries even more restrictions?

We will soon know what the aid is about but it appears is not only mtl that requires help so if the support is industry-wide this may give mtl a better chance and much more time to straighten out the ship.