Tourism Holdings resolves banking covenants issue

Tourism Holdings says it has resolved a banking covenants breach issue with its banks.

It had received confirmation that Westpac and ANZ had revised covenants based on updated forecasts it provided, Tourism Holdings said today.

That followed discussions held with the banks since the company announced the issue early this month.

A more detailed update and outlook for the company would be provided with the half year result announcement tomorrow.

Previously, the company said it was forecasting it would not be in compliance with banking covenants for the March quarter.

That was because of the size of a profit downturn after a severe and sudden drop in forward bookings during the key January booking month created uncertainty for the remainder of the financial year.

NZPA

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Seeka Provides the Results of Meeting - ASM
April 19th Morning Report
PGW Guidance Update
CNU - Commerce Commission releases draft expenditure decision
Spark announces departure of Product Director
TGG - T&G appoints new Director
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER
Devon Funds Morning Note - 17 April 2024
Consultation opens on a digital currency for New Zealand