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Strategies & Market Trends : Value Investing
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To: Jurgis Bekepuris who wrote (38406)7/1/2010 2:34:02 PM
From: Grommit  Read Replies (1) of 78751
 
FR-pref shares (J&K) -- nope. not today. waiting until they suspend the pref dividends. Aren't these enough warnings?

...threaten its ability to meet some debt covenants.

Fitch also said there is a risk First Industrial could defer its preferred stock dividends, a step that would further underscore its financial flexibility is constrained.

"If the Company is not required to pay preferred stock dividends... it may elect to suspend some or all preferred stock dividends... which would aid compliance with the fixed charge covenant under its line of credit agreement."
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