Corus Entertainment signs amended debt deal with banks, reports $26M loss in Q4 [Financial Post (Toronto, Ontario, Canada)]
Rogers Communication, Inc. (RCI)
Last rogers communication, inc. earnings: 4/22 07:00 am
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Source: Financial Post
TORONTO — Corus Entertainment Inc. has gained some breathing room. The company says it has agreed to a deal with its lenders that will buy it some time as it works to slash costs and reduce its debt. The agreement amends and restates its existing syndicated, senior secured credit facilities with its bank group, led by RBC Capital Markets and TD Securities. The restated credit facility was changed to reduce the total limit on the revolving facility to $150 million from $300 million and increase the maximum total debt to cash flow ratio required under the financial covenants. The announcement came as the broadcaster reported a fourth-quarter loss compared with a profit a year ago as its revenue fell 21 per cent. Corus said its net loss attributable to shareholders amounted to $25.7 million or 13 cents per diluted share for the quarter ended Aug. 31. The result compared with a profit attributable to shareholders of $50.4 million or 25 cents per diluted share in the same quar
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