Finance & Investing | Debt | Financial Trouble | Capital Markets
Ultra Petroleum Sees Relief as Lenders Waive Payments
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Ultra Petroleum Corp. announced that on March 1, 2016 , its wholly-owned subsidiary, Ultra Resources, Inc. entered into waiver and amendment agreements with all of the Ultra Resources lenders, including each of the lenders participating in Ultra Resources' unsecured revolving credit facility and each of the investors holding unsecured senior notes issued by Ultra Resources.
This comes after the company warned of possible bankruptcy in its 10K filing.
The waiver and amendment agreements provide the Company with an opportunity to continue discussions with its creditors about restructuring all of its debt burdens, including the senior notes issued by the Company.
The waiver and amendment agreements postpone and defer the March 1, 2016 maturity and interest payments arising under the Ultra…
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