Some New Fortress Debt Offers Investment Opportunity: Capstone

Some of New Fortress Energy’s debt offers an “underappreciated” opportunity for distressed debt investors due to the LNG company’s assets in Puerto Rico and Brazil, even as the company looks to restructure its debt with creditors, according to an analyst note from Capstone.

• Restructuring negotiations suggest that the company’s valuation would avoid a worst-case scenario, as creditors have extended the forbearance period multiple times
• Co.’s 2029 notes offer creditors “unique upside” as recovery of the debt expected to be tied to company assets in Brazil
  • NOTE: Brazil expected to hold auction in March 2026 to secure new gas generation
• READ: ...