NASDAQ:NFE 29 October 2025 - 15 December 2025

New Fortress Energy – a company founded by billionaire Wes Edens – grew rapidly in recent years as an integrated gas-to-power provider, building liquefied natural gas terminals, floating LNG facilities, and power plants from the Americas to Asia. But that breakneck expansion came at a cost: nearly $9 billion in debt piled up on its balance sheetnews.bloomberglaw.com. When several major projects hit delays and cost overruns, NFE’s revenues and cash flows fell short, making it increasingly difficult to meet its heavy debt obligationsnews.bloomberglaw.com. The company even suspended its dividend late last year to conserve cash and began scrambling to raise funds by bringing in partners and selling non-core assetsreuters.com. By early 2025, alarm bells were ringing. Moody’s downgraded NFE’s credit rating in March to Caa1, flagging the company’s “high amount of debt, leverage, and interest costs relative to EBITDA and cash flow”investing.com. NFE had lowered its 2025 earnings guidance and still wasn’t generating enough cash to cover its debt service, Moody’s notedinvesting.com. The firm’s aggressive, debt-fueled growth strategy left its capital structure fragile. “NFE has weak liquidity,” Moody’s warned, highlighting that the company was relying on its cash reserves, credit facilities, and hoped-for proceeds from asset sales and claims to