Petroplus Provides Update Regarding Its Revolving Credit Facility and Operations of the Petit Couronne, Antwerp and Cressier Ref

abarrelfull wrote on 31 Dec 2011 08:55
Tags: belgium france petroplus refinery switzerland

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Petroplus Holdings AG (SIX: PPHN) today announced that Petroplus held meetings with all lenders under the Revolving Credit Facility yesterday in Zurich. The discussions were open and constructive. Additional discussions between the lenders and the Company’s management will continue over the comings days in an effort to restore availability of credit facilities that ensure proper operations of its refineries.

In the meantime, the Company will start temporary economic shutdowns of the Petit Couronne, Antwerp and Cressier refineries in January 2012 given limited credit availability and the economic climate in Europe. The restart of the refineries is dependent on economic conditions and credit availability. The Company intends to provide further updates to the market as needed via press releases.

• Petroplus Provides Update Regarding Its Revolving Credit Facility and Operations of the Petit Couronne, Antwerp and Cressier Refineries

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