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LMI Aerospace Inc. Message Board

  • cpa38 cpa38 Sep 4, 2013 9:04 AM Flag

    Debt covenant negotiations

    In the conference call, the CFO indicated that their financial shortfall in this past quarter, teamed with expected future shortfall as a result of not getting work from SPR as expected, will cause LMIA to likely break some debt covenants. LMIA was going to renegotiate the covenants and the CFO indicated they would announce the outcome of that renegotiation soon via an SEC filing. I would have expected that announcement by now. I suspect that is a primary reason behind the current weakness, although there are other concerns as well.

    Anyone have any insight on this issue?

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