TSX:NRR.UN - Post by User
Comment by
incomedreamer11on Nov 15, 2023 6:43pm
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Post# 35738057
RE:RE:RE:RE:Dividend cut coming ?
RE:RE:RE:RE:Dividend cut coming ?FINANCIAL COVENANTS
Term facility
Consolidated debt to aggregate assets Not greater than 70%
Debt service coverage ratio Not less than 1.00
Portfolio equity Not less than $75 million
As at and during the nine months ended September 30, 2023, Northview was in compliance with all financial covenants, with the exception of the debt service coverage ratio of 1.35 for the period ended June 30, 2023, which was less than the limit at that time of 1.40.
Northview obtained a waiver of the debt service coverage ratio covenant effective June 30, 2023, and amended the threshold for the debt service coverage ratio to 1.20 as part of the credit facility amendments executed in the third quarter of 2023.
In January2024 they will hold AGM and if they will write down some book value of property
D/GBV will be above 70% ,all RITS in 2023 and next year down book value of property because
cap rate increase due to high interest
For some reason distribution 11% for this REIT, it means market not sure about sustainability