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Fly News Breaks for July 28, 2017
TOO
Jul 28, 2017 | 05:52 EDT
Raymond James analyst Benjamin Brownlow downgraded Teekay Offshore Partners to Mrket Perform following the distribution reduction, $640M equity issuance, and debt financing transactions. The analyst said the moves will improve leverage and support long-term growth capacity but thinks cash flow is prioritized to support capex growth and improve the balance sheet while a restoration of distribution is unlikely until 2019.
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