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Friday, 29th August 2008

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Trinity Mirror denies crisis



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MEDIA group Trinity Mirror insisted it was trading comfortably within the covenants for its debt facilities after shares tumbled following market concerns.
At one point shares plunged more than 24 per cent, hitting just over 41p, which valued the company at just £107 million.

The collapse followed reports that the company would not be able to service its debts of £425m, but in a strongly-worded statement the group, publisher of the Daily Mirror and Sunday Mirror, insisted it was "trading comfortably within the covenants for its debt facilities".

The statement added "there has been no tightening of the financial covenants".

The publisher also said it had a new £210m bank facility secured during June 2008.







The full article contains 120 words and appears in Edinburgh Evening News newspaper.
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  • Last Updated: 17 July 2008 11:39 AM
  • Source: Edinburgh Evening News
  • Location: Edinburgh
 
 

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