MDR stock is soaring today after troubled energy engineering firm McDermott International (NYSE:MDR) announced that it had gained access to the second tranche of the $1.7 billion secured credit facility announced on October 21, 2019.
MDR Stock Recovering as Turnaround Efforts Continue
MDR had been tanking badly in 2019 following a difficult 12 months, which saw the Houston-based firm brought to the brink of bankruptcy. In September, the firm announced that it had brought in turnaround experts AlixPartners LLP to help negotiate a bridging loan to cover a working-capital deficit of $1.7 billion USD. In October, ...
Get early insight on hidden secret gems on MicroSmallCap. Follow Crypto, Mining, Cannabis and Energy stocks and get free research reports here.
Source: MicroSmallCap
(December 2, 2019 - 2:50 PM EST)
News by QuoteMedia
www.quotemedia.com