Accuride warns of potential covenant problems next year

By Sara Rosenberg

New York, Sept. 23 - Accuride Corp. thinks it possible that it may not maintain compliance with certain financial covenants under its credit facility at the end of the first quarter of 2009, depending on the strength of the commercial vehicle market and its results from operations, according to a news release.

"The company is monitoring this situation closely and we will continue to explore alternatives to address compliance concerns. In the meantime, we expect to have adequate liquidity from operating cash flow and our untapped revolver," said David Armstrong, senior vice president and chief financial officer, in the release.

Currently, the company is in compliance with financial covenants and expects to maintain compliance through the end of the year.

Accuride is an Evansville, Ind.-based manufacturer and supplier of commercial vehicle components.

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