Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Crane Co T.CR


Primary Symbol: CR Alternate Symbol(s):  CXT

Crane Company is a manufacturer of engineered components for mission-critical applications focused on the aerospace, defense, space and process flow industry end markets. Its segments include Aerospace & Electronics, Process Flow Technologies, and Engineered Materials. The Aerospace & Electronics segment supplies critical components and systems, including original equipment and aftermarket parts, primarily for the commercial aerospace, and the military aerospace, defense and space markets. The Process Flow Technologies segment is a provider of engineered fluid handling equipment for critical applications. The Engineered Materials segment manufactures fiberglass-reinforced plastic panels and coils, primarily for use in the manufacturing of recreational vehicles, truck bodies and trailers (Transportation). It also designs and manufacturers multi-stage lubrication pumps and lubrication system components technology for critical aerospace and defense applications.


NYSE:CR - Post by User

Bullboard Posts
Comment by RichyRich$on Mar 10, 2020 9:59pm
162 Views
Post# 30791333

RE:RE:Survivor or Dead meat?

RE:RE:Survivor or Dead meat?Debt not due until 2024 doesn't mean much. That's what I thought with Bellatrix with debt extended to 2024. But then they missed a financial Covenant. If you miss a debt interest payment by even $1 Million... the debt deadline of 2024 becomes void and the banks can ask for all of their money back. Usually a CCAA bankruptcy protection. But cannot always be sold favorably. Like Pengrowth. All shareholders wiped out getting only 5 cents. So pretty well the 2024 debt deadline is not even safety assurance. I think sometimes the company and banks agree to purposely manipulate a financial Covenants breach so the banks can hope to have the company sold low to get their share and the common shareholders get wiped out to zero. With Bellatrix it's a unique situation where they already recapitalized last year with the banks swapping $110 Million debt to own 83% of the common shares. So they won't allow the common shares to go to zero because they don't want to lose $110 Million. So I'm hoping for the best there... owning a lot of shares. But in Crew's case... the banks will not care at all if the common share holders get zero. They might try to convince Crew to purposely miss a payment by a few Million. Debt deadline becomes void. They enter CCAA bankruptcy protection. Try to sell the company high enough for the Banks to get their money... and shareholders ZERO. that's the way it works boys. I had to figure it out the hard way.
Bullboard Posts