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.