Reuters logo
BRIEF-DryShips says doubts ability to continue as a going concern for a reasonable period of time
June 6, 2016 / 9:02 PM / in 2 years

BRIEF-DryShips says doubts ability to continue as a going concern for a reasonable period of time

June 6 (Reuters) - DryShips Inc

* As of March 31, co in breach of some financial covenants, while 3 bank facilities matured, co hasnt made final balloon installments

* Three lenders have declared an event of default - SEC filing

* For some bank facilities, the company has elected to suspend principal repayments and interest payments

* Cash expected to be generated from operations or proceeds from the sale of vessels will not be sufficient to cover co’s working capital deficit

* Present conditions, events raise substantial doubt about the company’s ability to continue as a going concern, for a reasonable period of time

* Present conditions, events raise substantial doubt about the company's ability to continue as a going concern, for a reasonable period of time Source text for Eikon: [ID:(1.usa.gov/1ran2Wc )] Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below