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Telit Communications gets advance waiver from bank for potential breach of covenants

The company remains in discussions on its covenant package
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Earlier this month, Telit said it is advanced discussions with its bank about waiving a possible breach of one of its covenants

Telit Communications Plc (LON:TCM) said it has been granted an advance waiver by its bank for the potential breach of covenants as at 31 December 2017.

It said in a statement that: "The Group and the bank remain in discussions with regard to amending its covenant package for future periods."

READ: Telit targeting double-digit revenue growth in 2018

Earlier this month, Telit said that it is in “advanced discussions” with its bank about waiving a possible breach of one of its covenants, freeing cash flow generation against debt service obligations at the end of the year.

 

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