Coping with a broken loan covenant

06/5/2009 | CFO.com

As earnings continue to shrink in a weak market, more companies are starting to violate the conditions of their loan covenants, writes Vincent Ryan. Failing to maintain a certain earnings ratio or other metric can increase a company's capital costs and hurt their credit rating, notes Ryan, but talking to the bank ahead of time may help avoid some of those unpleasant penalties.

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