Appliance manufacturer AoFrio has announced that it has been given a waiver by its bank for a potential breach of its interest covenant.
In October, the company had reported that it was at risk of breaching its financial year-end banking covenants related to the interest coverage ratio, and that it would be seeking a formal waiver from the bank.
AoFrio has now confirmed that the bank has waived its right to take further action in relation to the potential breach.
No further details were provided.
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