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Strategies & Market Trends : Value Investing
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To: Softechie who wrote (13774)1/26/2002 1:24:53 PM
From: Spekulatius  Read Replies (2) of 78576
 
MIR vs. CALP
MIR is in the same boat than CALP but has a much stronger balance sheet. With the last secondary, MIR took in 759M$ in equity (rather than CALP 1.0B$ in LTn debt).
As of Sept. 30, 2001, MIR has 5.7B$ (CPN 9.3B$) in debt outstanding and 1.49B$ (CPN 0.47B$)in cash and 4.8B$ in equity(CPN 2.8B$). Furthermore, MIR will take in 700M$ in cash from the sale of a German subsidy (Bewag), and its expansion program is much less aggressive than CPN.

I continue to believe that due to MIR moderate leverage, the company is in a better position than may of its peers.
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