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Spirit Aero Sees Going-Concern Warning; Seeks Credit Waivers

Feb. 10, 2025, 12:04 PM UTC
Anthony Palazzo
Anthony Palazzo
Bloomberg News

Due to cash issues, Spirit Aero management expects to make going-concern warning in 2024 10-K and is seeking credit waivers on Term Loan B credit agreement ahead of its planned acquisition by Boeing Co. this year.

  • Term Loan B covenant requires unqualified audit opinion with respect to going-concern
  • Management is seeking a covenant amendment to remove requirement of unqualified audit opinion
    • Morgan Stanley has consented to similar amendment under existing bridge credit agreement
  • Consenting Term Loan B lenders will receive 25 basis-point fee for agreement to amendment
  • Co. is requesting lender responses by 5 p.m. NY on Feb. 13; expects ...





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