Impact: Negative, as Cathedral's lending syndicate continues to reduce the Company's financial flexibility. Cathedral's lending syndicate intends to reduce the Company's facility from $35 mm to $30 mm by December 31, 2016 and to $25 mm by March 31, 2017. As a result, Cathedral intends to investigate alternative forms of financing and potential corporate partnerships and transactions to improve liquidity.
10 Aug 2016
2Q16 RESULTS INVOLVE ADDITIONAL COVENANT AMENDMENTS
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2Q16 RESULTS INVOLVE ADDITIONAL COVENANT AMENDMENTS
Cathedral Energy Services Ltd. (CET:TSE) | 0 0 0.7% | Mkt Cap: 69.1m
- Published:
10 Aug 2016 -
Author:
Ian B. Gillies -
Pages:
3
Impact: Negative, as Cathedral's lending syndicate continues to reduce the Company's financial flexibility. Cathedral's lending syndicate intends to reduce the Company's facility from $35 mm to $30 mm by December 31, 2016 and to $25 mm by March 31, 2017. As a result, Cathedral intends to investigate alternative forms of financing and potential corporate partnerships and transactions to improve liquidity.