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Stock impact report

Wood pellet producer Enviva files for bankruptcy and plans to restructure [Financial Post (Toronto, Ontario, Canada)]

Enviva Inc. (EVA) 
Last enviva inc. earnings: 4/29 04:30 pm Check Earnings Report
US:NYSE Investor Relations: envivapartners.com
Company Research Source: Financial Post
its intention to cut about $1 billion of debt by restructuring agreements with creditors, including those who have invested heavily in new facilities. Maryland-based Enviva said in the filing that its debts exceed $2.6 billion. The company owes $780 million to a Delaware bank, $348 million to a German energy company, as well as $353 million in bonds from local development authorities in Mississippi and Alabama. The announcement came two months after Fitch Ratings downgraded Enviva's default rating following a missed interest payment of $24.4 million. Article content Article content “Considerable uncertainty exists regarding Enviva's ability to renegotiate uneconomic customer contracts” entered into in the fourth quarter of the 2022 fiscal year, the global credit-rating agency said in a Jan. 19 press release. Over the past 20 years, Enviva worked to meet increasing global demand for alternative energy sources and built 10 wood pellet production plants across the U.S. South, c Show less Read more
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