Alstom Soars as Train Maker's Debt Plan Reassures Investors [Yahoo! Finance]
ALSTOM UNSP/ADR (ALSMY)
NASDAQ:AMEX Investor Relations:
alstom.com/investor-relations
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Source: Yahoo! Finance
Most Read from Bloomberg Trump Judge Indefinitely Postpones Documents Case Trial One Out of Every 24 New York City Residents Is Now a Millionaire Israel Says a Cease-Fire Plan Backed by Hamas Falls Short Trump's Private Life Exposed in Intimate Stormy Daniels Testimony The stock climbed as much as 11%, recovering an initial drop of 7.3% in early Paris trading on Wednesday. Alstom last year outlined a range of measures, including a share sale, after project delays in the UK. The €1 billion ($1.1 billion) capital increase, a new €750 million hybrid bond and asset sales are part of a plan to trim debt following a warning in October that wiped billions off the company's valuation. The company's credit outlook will be changed to stable after the closing of the equity sale and bond issuance, both expected no later than September, it said Wednesday, also detailing a reassuring outlook. “While many of the details of the de-levering plan are as expected, we think the announced a
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