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Enseco Energy Services Details Credit Facility Update

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March 7, 2014

Enseco Energy Services Corp. (TSXV: ENS.V) noted on March 5 that under an agreement with its lender, effective Feb. 28, the company’s credit facilities would be amended.

The agreement was reached after Enseco breached its debt service coverage ratio and the ratio of current assets to current liabilities as at Dec. 31, 2013, the company said.

Pursuant to the amending agreement, the debt service coverage ratio testing frequency was changed to a quarterly trailing 12-months basis from an annual basis, Enseco Energy Services said.

The operating margin requirement was amended ...

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