Spirit files agreement with lenders over $590 million in charges
10/30/2012 9:31 AM
10/30/2012 9:32 AM
Spirit AeroSystems filed notice with the Securities Exchange Commission that it has renegotiated the debt ratios on its bond covenants in order to accommodate the $590 million in extra expenses it has incurred for several aircraft programs.
With the agreement, the company is not in default with its lenders for exceeding those ratios in the third and fourth quarters of 2012 and the first quarter of 2013. The agreed upon ratios will revert to the original amount in the second quarter, according to the filing.
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