Muddy Waters keeps 'strong sell' rating on Temasek-backed Olam

Reuters, 7 Feb 2013
Feb 8 (Reuters) - Muddy Waters LLC kept its "strong sell" rating on Olam International Ltd, saying the Singapore commodities firm's borrowings had increased in its second quarter.
The short-seller also said that with Olam's bonds yielding around 7 percent to 8 percent, which it feels is too low, the company's interest burden is "not sustainable".
Olam said on Thursday it has begun a review of its business priorities and free cash flow targets as it announced a 20 percent rise in second-quarter net profit. Full story
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