Excel Maritime expects to be able to make this year's debt payments

By Sara Rosenberg

New York, March 31 - Excel Maritime Carriers Ltd. anticipates having adequate liquidity to make the required payments of principal and interest on its debt through Dec. 31, according to a 20-F filed with the Securities and Exchange Commission on Thursday.

In addition, based upon projected operating results, the company believes it will meet the financial covenants under its loan agreements at future measurement dates and in the event of any loan security shortfall, it will have sufficient cash to place as additional cash collateral.

Excel Maritime is an Athens-based provider of sea borne dry bulk cargo transportation services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.