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Article: Pilgrim's Pride Corporation Announces Definitive Written Agreement With Lenders on Temporary Covenant Waiver.
- Article from:
- PR Newswire
- Article date:
- September 29, 2008
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PITTSBURG, Texas, Sept. 29 /PRNewswire-FirstCall/ -- Pilgrim's Pride Corporation today announced that on September 26, 2008, it successfully completed a definitive written agreement with its lenders to temporarily waive the fixed-charge coverage ratio covenant under its credit facilities through October 28, 2008. The lenders also have agreed to continue to provide liquidity under these credit facilities during this same 30-day period in accordance with the terms of the waiver agreement.
Pilgrim's Pride had requested the temporary waiver after notifying lenders that it expects to report a significant loss in the fourth quarter of fiscal 2008, which ended ...