REUTERS/Gonzalo Fuentes Acquire Licensing RightsLONDON, Nov 15 (Reuters Breakingviews) - Alstom’s (ALSO.PA) problems are piling up.
Alstom’s headaches, which include an inventory build-up, project delays and an order slowdown, haven’t materially changed.
But to retain its investment grade credit rating the group needs to slash net debt that has jumped 50% to 3.4 billion euros since March.
But as Denmark’s Orsted (ORSTED.CO) has found, the only thing investors dislike more than operational upheaval is a message that constantly changes.
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Persons:
Gonzalo Fuentes, Henri Poupart, Lafarge, George Hay, taints, Lisa Jucca, Oliver Taslic
Organizations:
Alstom, REUTERS, Reuters, Caisse, X, Thomson
Locations:
Saint, Ouen, Paris, France