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:

July 3rd Morning Report
ikeGPS Chief Financial Officer Transition
TWL - TradeWindow announces strategic partnership with FTA
BLT - Patent issue settled and new 5 year agreement with BSP
July 2nd Morning Report
July 1st Morning Report
June 27th Morning Report
SDL - FY2026 Earnings Guidance
PaySauce Director resigns for US-based role with NZTE
General Capital Releases 2025 Annual Report