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NEW YORK — Cordiant Communications Group is close to completing the renegotiation of its banking covenants meant to reflect the change in its operating performance.
The London-based holding company said Thursday that it reached an agreement with its banks that will amend covenants governing their principal borrowing facilities. The agreement in principal is subject to completion of full documentation by April 19.
The changes will include new financial covenants for periods ending on and after Dec.
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