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Interserve reveals deleveraging plan

The group is pitching to investors to approve the programme and prevent default.
Interserve reveals deleveraging plan

Interserve’s (IRV) full-year results for 2018 are largely irrelevant to its prospects as a going concern. The beleaguered outsourcer has a debt pile close to 20 times larger than its current market capitalisation, and urgently needs shareholders to approve its proposed deleveraging plan so it can avoid a default.

IC TIP: Hold at 22pp

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