Wednesday, May 13, 2009

Corus asks banks to relax debt covenants

Corus is meeting with it’s bankers today to discuss the effects of the recession on key debt to earnings ratios.

Whilst Corus have made cutbacks in production and costs, the depth of the recession continues to take a heavy financial toll on the steelmaker.

We understand that whilst Corus is an indirect subsidiary of Tata, it does not have access to the parents funds.


You can read more on this story at The Independent

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