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"Nevertheless, the chief executive replacement does not immediately deal with the balance sheet issues the company is facing.
However with net debt at over £3bn and interest cover at 1.5 times (2009) the balance sheet issues are far from solved.
Our call is that a modest re-rating is likely as balance sheet issues and concerns over earnings risks move into the rear view mirror.
"This agreement in principle with our lenders follows months of intensive strategic review of our balance sheet issues to financially strengthen the company," said Mary Berner, the chief executive of RDA.
"Now that their balance sheet issues are off the table, there's no reason for them to lose out" as demand for the infrastructure that makes mobile phones work continues, Mr. Goel said.
"Near term balance sheet issues have been addressed, but we think a dilutive rights issue remains a material risk in the medium term, and could be one of the first actions undertaken by the new chief executive".
Similar(46)
The four-page fact sheet issued by the Obama Administration clearly took Iran by surprise.
The instruction sheet issued to the program's announcer said: "Honest enthusiasm will be welcomed in this presentation.
Neither NextWave nor U.S. Technologies was listed on the biographical sheet issued by the commission after Mr. Webster's selection.
"The underlying issue is a bank balance sheet issue, and that cannot be solved by changing the way the rate is calculated".
The word "Discontinued" appeared next to the five bottommost items on a price sheet issued recently by Mercedes-Benz USA for its 2013 vehicles.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com