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Re: Value_Investor post# 40

Tuesday, 03/28/2017 4:21:07 PM

Tuesday, March 28, 2017 4:21:07 PM

Post# of 65
Tidewater +11% as it stops seeking more waiver extensions
Tidewater (TDW +11%) posts strong gains after saying it will not seek renewal of limited waivers from its lenders and noteholders following yesterday's expiration of the latest one.
TDW has been in talks since last year with its principal lenders and noteholders to amend its various debt arrangements to obtain relief from certain covenants.
TDW CEO Jeffrey Platt says work remains to resolve "a small number of issues" and to obtain board approval as well as final approval from the various financial institutions.
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