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Fly News Breaks for June 9, 2017
TOO
Jun 9, 2017 | 09:07 EDT
As previously reported, Morgan Stanley downgraded Teekay Offshore Partners to Underweight from Equal Weight and lowered its price target to $1.50 from $5.50. Analyst Fotis Giannakoulis said he is uncertain Teekay Offshore has the ability to meet its obligations as liquidity is under stress and the company could have a funding gap of $400M in 2018. Giannakoulis sees increasing risk of recapitalization over the next two years given the large capital requirements, which could effect the entire Teekay group.
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