fact is covenants and especially financial covenants are in breach - fact.
so if the case, means companies financial strength not there or improved, which would mean has a cost to renegotiate said loan facility.
AJMs best hope is to find a new lender, but with current standing can’t see improved terms even for a new financing.
Doesn’t look good and if a CR needed shortly will only IMO further put AJM over “distressed” status (distressed loans per financial terms and they trade in in the secondary loan market as in HY (high yield), double digits as in yield.
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