With dollars earnings expected to decline markedly in the medium term Rolls-Royce has paid £1.45 billion to restructure it hedge book, according to a stock exchange release today. “Due to the deterioration in the medium-term outlook caused by COVID-19, absent mitigating actions, we forecast a shortfall of US$ denominated cash receipts over the next seven years compared to our hedged position. As a result, it is financially prudent to mitigate the future risks of this hedge book by closing out hedges that are no longer required,” the firm said in a statement. The restructuring saw Rolls-Royce reduce its total hedge
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