Boart Longyear's debt crisis

The earnings were awful. But it is the debt situation that is the real worry.

The Boart Longyear (BLY) interim result was always going to be terrible. It was more a question of just how bad.

And the answer was very bad indeed. On top of the expected massive loss was the eye-popping admission that, in the absence of a refinancing or recapitalisation, the company may breach its lending covenants.


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