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Article: Tortoise North American Energy Corp. Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Update as of September 30, 2009.
- Article from:
- Energy Weekly News
- Article date:
- October 16, 2009
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Tortoise North American Energy Corp. (NYSE: TYN) announced that as of Sept. 30, 2009, the company's unaudited total assets were approximately $139.2 million and its unaudited net asset value was $117.8 million or $18.80 per share. The unaudited balance sheet reflects a deferred tax asset of $6.2 million or $0.99 per share. The deferred tax asset recognizes the net benefit the company believes should be reflected under generally accepted accounting principles.
As of Sept. 30, 2009, the company was in compliance with its asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act) and basic maintenance covenants. The company's asset coverage ratio ...