NMM - Navios Maritime Holdings: Near-Term Debt Maturities Unlikely To Be An Issue

• Debt-laden dry bulk shipper is facing another debt maturity in August.
• With decent cash generated from operations and the option to sell additional vessels to related party Navios Maritime Partners, redemption of the remaining Senior Secured Notes shouldn't be an issue.
• CEO and Chairwoman Angeliki Frangou recently disclosed a 40.8% ownership stake on an as-converted basis and indicated her intention to purchase additional common shares for up to $20 million.
• Ms. Frangou still likely to reunite Navios Maritime Holdings and Navios Maritime Partners at an opportune time to grab a very substantial stake in Navios Maritime Partners.
• Investors should continue to remain on the sidelines and be wary of a potential future merger with Navios Partners to the detriment of the partnership's outside common unitholders.

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