Aroundtown:Expert Opinions

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Name	Company	Bearish sentiments
Rob Jones^[1]	BNP Paribas Exane	He predicts that earnings will decline more than 30% in the next 2 years. It will see a rise in borrowing costs as it will fail to call its future hybrid bonds. This will negatively affect its earnings
	S&P Global Market Intelligence^[1]	Its shares have seen a rise in bearish “short” positions. As of March 24, 19% of its shares were out on loans, indicating short interest.
	Bloomberg^[1]	Its subordinated bonds are deeply distressed(under 50% of face value). It skipped early redemption of its bonds late last year citing high refinancing costs and even said that it will consider deferring coupon payments.
	Seeking Alpha^[2]	At the end of September 2022, its LTV was 40%. But this rises to 54% when hybrid bonds is included.