|
COPYRIGHT 2002 PR Newswire Association LLC
American Commercial Lines LLC ("ACL") announced today that, as required under its senior credit facility, ACL submitted a financial restructuring plan to its senior lenders on December 27, 2002. ACL has been in discussions with its lenders to explore financial restructuring alternatives. While discussions are ongoing, ACL has elected not to make interest payments and utilize the 30-day grace period with respect to the $7.7 million interest payment due on its 11-1/4 percent senior notes and the $0.3 million interest payment due on its 10-1/4 percent senior notes. These interest payments were scheduled for December 31, 2002.
To assist in evaluating its financial restructuring alternatives, ACL has retained Richard Weingarten & Company, Inc. and Huron...
Read the full article for free courtesy of your local library.
|
Bookmark this article
Print this article
Link to this article
Email this article
Digg It!
Add to del.icio.us
RSS
