December 2, 2019 - 2:50 PM EST
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MDR Stock Gains as Company Gains Access to $250 Million in Financing

MDR Stock

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, ...

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Source: MicroSmallCap (December 2, 2019 - 2:50 PM EST)

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