As to who’s in and out of compliance, there is still some guesswork as companies may be quickly plugging breaches as they occur.
Safe Bulkers, which listed 11 financial covenants required of it by lenders, said it was in compliance with lenders terms as of the end of fiscal 2014. However, Chappell writes that Safe Bulkers “appears to have the most to be concerned about in relation to the banks and covenants”.
