The note by the Greek arm of auditing giant Deloitte points to the New York-listed containership owner’s prediction that it will not be able to remain in compliance with financial covenants when waiver deals with lenders expire this year, among other factors.
“The company’s expected inability to comply with certain financial covenants in 2015, under its current loan agreements, as well as the uncertainty relating to the extension or refinancing of a loan maturing in 2015, raise substantial doubt about its ability to continue as a going concern,” wrote Deloitte Hadjipavlou, Sofianos & Cambanis.
Michael
