[LEFT]8:32 (Dow Jones) After Tuesday’s 7.6% stock slide on liquidity concerns following Overseas Shipholding’s (OSG) better-than-expected 4Q results, Dahlman Rose agrees with management that the oil transporter has sufficient liquidity for 2012. “But we project its cash balance will fall negative in 1Q13 when its existing $1.5B facility matures and is replaced with its new forward-start $900M facility. We remain cautious on OSG and maintain our sell rating and $9 target.” And CreditSights notes the company recently had to amend loan covenants. OSG finished Tuesday at $9.16 and has now slid 28% this month.
[I]- Kevin Kingsbury, Dow Jones & Co[/I][/LEFT]