January 27, 2017

Tidewater granted waiver extensions until March 3

David Krapf

tdw-dean-edward-taylor_0015 — Tidewater has been granted relief from certain debt covenants until March 3. Photo by David Krapf

Tidewater Inc. announced yesterday that it has received limited waiver extensions from its principal lenders and noteholders until March 3.

As previously reported, New Orleans-based Tidewater had been in discussions with its lenders and noteholders to amend the company's various debt arrangements to obtain relief from certain covenants.

Pending the resolution of those discussions, the company had previously received limited waivers which waived compliance with these covenants until Jan. 27, 2017. As of 1:30 p.m. EST, Tidewater (NYSE: TDW) was trading at $2.38, down 0.83%.

Maritime Industry

David Krapf

David Krapf has been editor of WorkBoat, the nation’s leading trade magazine for the inland and coastal waterways industry, since 1999. He is responsible for overseeing the editorial direction of the publication. Krapf has been in the publishing industry since 1987, beginning as a reporter and editor with daily and weekly newspapers in the Houston area. He also was the editor of a transportation industry daily in New Orleans before joining WorkBoat as a contributing editor in 1992. He has been covering the transportation industry since 1989, and has a degree in business administration from the State University of New York at Oswego, and also studied journalism at the University of Houston.

Tidewater granted waiver extensions until March 3

David Krapf

David Krapf

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