In a note to clients, DB’s analyst Amit Mehrotra said the company is out of “intensive care” and has entered the “recovery room”.
Last month saw a string of share buybacks from the company’s executives, which pushed up their stake.
Mehrotra said: “We believe the company is very close or has already locked up the debt financing commitments for its last four remaining newbuildings and is in the process of finalizing waivers and amendments for certain of its covenants for minimal cost.”
