Isolyser (OREX)- Any comments Message Board

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Biotech / Medical : Isolyser (OREX)- Any comments

OREX 0.223

-34.4%

Apr 3 5:00 PM EST

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To: Bruce Resnak who wrote (518)	8/31/1997 4:56:00 PM
From: JElias	of 617

This does happen to many companies from time to time - the seriousness of situation depends on: a) the nature of the default, and b) the attitude of the bank to work things out. In many cases, a short-term waiver is granted and the Company is able to correct the situation (such as improving certain balance sheet ratios)without reprecussions; however, an increased interest rate (or even worse, a "call" on the debt) can lead to serious problems. Since it is the senior debt, one has to assume it will be worked out without the debt being called, but more details are needed before estimating the impact. The discussion related to classification as current vs non-current is somewhat irrelevant for the time being.

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