Vantry halts its acquisition programme for a year to defend an investment grade rating
Management told investors on Thursday that no further deals will close before the September 2027 quarter. The shares fell 11% because the deals were the growth.
Topic
covenants
Halvorsen agrees a $680m water metering sale that clears the March covenant test
The disposal arrives a month before management had told lenders to expect news. It removes the leverage question and leaves the 2029 refinancing exactly where it was.
Halvorsen Industrial's 2029 notes now price a restructuring management says is not coming
The pump and valve maker has liquidity into next summer and a leverage test in March. Its unsecured bonds are trading as though only the second of those facts matters.
The morning brief
What moved overnight, on your screen before the open.
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