"Any of this is possible.... 17-Jan-09 01:40 am 1. SRZ may get the drop dead date extended. 2. The current lenders may be working with SRZ to renew the loans/loc on better terms as CEO & his team has cut some fat and have streamlined the business for better operating bottomline. 3. SRZ may offer some incentives like warrants at 5 or 8 for lenders. 4. Goldman Sach may become the lender with warrants option as they have done that in some other cases. Chances=90%
IMHO, Chances of SRZ going to 5 next week = 95%
Chances of SRZ going to 6 = 50% "
- #1 happened. The news is kind of very confusing. Modifying the negative covenants ..Is this good? or neutral!!
I still believe that GS is coming up with refinance for SRZ soon.