Sharechat Logo

Tourism Holdings resolves banking covenants issue

Wednesday 23rd February 2011

Text too small?

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



  General Finance Advertising    

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.

Related News:

AIA - June 2025 Monthly traffic update
CHI - Q2 2025 Operational Update
July 15th Morning Report
BPG - Blackpearl Acquires US AI Platform to Accelerate Growth
TGG - Response to media speculation
ARB - Annual Meeting Date and Director Nominations
CNU - Q4 FY25 Connections Update
MOVE FY25 Results and Investor Briefing 29 August 2025
RYM - First quarter trading update
July 11th Morning Report