GLOP - GasLog Partners: Value From Deleveraging

• GasLog Partners is currently trading at four times lower levels than before the economic downturn.
• They have been successfully applying their deleveraging strategy since its inception, and there is no evidence that this process will be stopped.
• Capital expenditures have been postponed for the next three years, limiting near future growth possibilities.
• However, deleveraging effect will bring value to unitholders as optimized free cash flow generation will offset for the lack of revenue growth.
• I am bullish on GasLog Partners as its intrinsic value is significantly above its current market price.

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