Debt Covenants amendedLooks like there is a concern that they are going to blow through previous covenants
Guess the rebound in ad revenues not as robust.
Beware the value trap frens.
CJR.B) announced today that it has completed an agreement to amend (the "Amendment") its Sixth Amended and Restated Credit Agreement with its bank group, led by RBC Capital Markets and TD Securities, dated March 18, 2022 (the "Credit Facility"). Pursuant to the Amendment, the maximum Total Debt to Cash Flow Ratio required under the financial covenants is increased through and including November 30, 2023. The Amendment also includes a financial covenant which, in the event that the Total Debt to Cash Flow Ratio exceeds a certain level, may restrict Distributions. All terms are defined in the Credit Facility