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Stas,

If the situation with Ferrellgas interests you, then it interests you. But I think you're wasting your time, because their financials are so bad compared to other, more obvious situations. OTOH, Simply Wall Street, a fundie site I've recently stumbled onto, says of them:

Stable Cash Runway: Whilst unprofitable FGPR.Q has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: FGPR.Q is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 53.6% per year.


So, taking a position in their debt depends on being reasonably sure you've done your homework correctly. However, when I see how their debt is being traded, it looks to me like just yield-hungry amateurs are bidding on it, hoping they've found a lottery ticket. So bump up to the single B's in your scans and take a look around.

(Again, IMHO 'natch)
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