ICI prospects looking bleak
Despite posting a comparatively robust set of Q3 results, the chemicals giant is still handicapped by a £3 billion-plus debt burden. The planned divestment of ICI’s substantial interest in Hunstman International looks under threat, increasing the likelihood of a rating downgrade. To make matters worse, the spectre of litigation hanging over a US subsidiary is undermining investor confidence and contributing to a pessimistic outlook. Bear Stearns
ICI is not expected to generate any meaningful and sustainable cashflow until at least 2003, in
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