Zeev's Turnips Patch-No Politics (ZEEV)

[KyrosL]

Yes, $800 million EBITDA will not leave any free cash, but they do have the $1.4 billion, part of which they can use to reduce a little bit of debt. The picture is worse than my cash flow projection 3 months ago, but not completely dire. Back in February, I expected operating cash flow of $650 million, which put EBITDA at more than $1.1 billion. If the creditors go along (I think they will), MIR can keep operating for a few more years, hoping for a revival of the power markets. But it's in a rather precarious situation. Nothing has changed my decision to avoid the common.

Kyros