Talks continue over Harris's credit facilities

US-- Harris Interactive has agreed an extended waiver period with its lenders to allow more time for discussions aimed at amending its credit facilities.

The company revealed in February that it was in violation of the leverage ratio and interest coverage covenants of its credit facilities.

It was initially granted a 30-day waiver, but that expired on Saturday 7 March.

In a filing with the Securities and Exchange Commission on 6 March, Harris said: “The company and the lenders now believe that more time will be helpful in structuring such amendments and have agreed to extend the waiver period.

“Based upon the current level of cooperation of the lenders, the company expects the lenders to continue to actively negotiate to have amended credit facilities in place by the end of the extended waiver period [8 May].”

Author: Brian Tarran