U.S. short-selling firm Muddy Waters on Tuesday revealed a short position in energy company Hannon Armstrong Sustainable Infrastructure Capital .
Carson Block, Chief Investment Officer, Muddy Waters Capital LLC., speaks at the Sohn Investment Conference in New York City, U.S. May 4, 2016. REUTERS/Brendan McDermidNEW YORK, July 12 - U.S.
The short-seller said the Maryland-based energy company has changed its business model since its initial public offering in 2014 to an investment company in unimportant projects from a fee-based one. The short-selling firm wrote Hannon Armstrong has booked tax benefits it is not entitled to, inflated gains on securitization and refinanced loans to its projects without proper disclosure to investors.
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