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GMLPP - Golar LNG Partners Is Not Worth Holding - The Preferreds Are Investable Though There Are Better Options
Golar LNG Partners LP 8.75% Series A Cumulative Redeemable Preferred Units
With uncertainty in regards to their future distribution levels, GMLP's common units should be avoided.
Dividend coverage on the preferreds remains adequate, even benefiting from the recent restructuring. They would be the better option if we had to buy one of the two.
However, the preferred units are also risky enough, and there are probably similar, better risk/reward plays in the industry.