RE:RE:RE:Volume back downNo way you want to get anywhere close to the max on your credit facility, risk being unable to pay the bills or stay onside of the conditions placed on the facility by the lenders, and possibly finding the need to seek protection from creditors (i.e., CCAA proceedings). I doubt it will come to this, but CTS has conditions they must continually meet to prevent their credit facility from going offside:
Excerpt from Note 5a) ("Borrowings) from CTS's Financial Statements as at June 30, 2023 (see SEDAR):: The Revolver Credit Facility has certain financial and non-financial covenants including a leverage ratio and interest coverage ratio. The Revolver Credit Facility is secured by a first-ranking security over all present and after-acquired properties in the form of a general security agreement. As at June 30, 2023, the Company was in compliance with its covenants. The Revolver Credit Facility contains provisions that limit certain restricted payments including dividends and share repurchases to a total of $40,000 per fiscal year.