Impact: slightly positive. Cathedral has been granted covenant relief by its lenders which is positive. However, any further downward
revisions in our estimates could put the Company in breach of its covenants. As such, we view the announcement as slightly positive, but significant risks remain.
28 Jan 2016
CATHEDRAL ENERGY SERVICES LTD. ANNOUNCES AMENDMENTS TO ITS CREDIT FACILITY AND PROVIDES OTHER CORPORATE UPDATES
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CATHEDRAL ENERGY SERVICES LTD. ANNOUNCES AMENDMENTS TO ITS CREDIT FACILITY AND PROVIDES OTHER CORPORATE UPDATES
Cathedral Energy Services Ltd. (CET:TSE) | 0 0 0.7% | Mkt Cap: 69.1m
- Published:
28 Jan 2016 -
Author:
Ian B. Gillies -
Pages:
3
Impact: slightly positive. Cathedral has been granted covenant relief by its lenders which is positive. However, any further downward
revisions in our estimates could put the Company in breach of its covenants. As such, we view the announcement as slightly positive, but significant risks remain.