Why I’m Betting on Valero’s Management
The economy has come to a screeching halt for the time being, and companies need cash in order to fulfill short-term obligations while some operations are shut down. But while other companies scramble, oil refiner and retailer Valero Energy's (NYSE: VLO) management understood the risks in advance. The moves it made in 2019 are helping it successfully navigate the industry's cash crunch today.
Right now, no one knows when we'll all be able to go back to work. And without employees working and customers buying, a lot of companies can't pay their short-term bills, much less turn a profit. They need cash -- and a revolving credit line can provide it.
Source Fool.com