reprice of long timpb short tim strategy , page-19

You can see what I own from thread. Of what I own, I am worried about BNBG the most (obviously); I am also concerned about MXUPA. They have good assets, are fully leased for next 7 to 8 years, and are owned by a very strong parent. However, when a note trades at 60% of face value, there must be a reason? The price simply worries me!

I am very worried about TIMPB and have a short position on TIM as a hedge which has been working fine. (80% hedged)