March 31, 2009 / 10:25 PM / 9 years ago

AbitibiBowater delays filing Canadian reports

VANCOUVER, British Columbia, March 31 (Reuters) - AbitibiBowater ABH.N told Canadian regulators on Tuesday it needs more time to file its latest financial statement as it tries to win lender support for its recapitalization plan.

The newsprint maker, struggling with heavy debt during a sharp downturn in the paper markets, said it needs to complete the negotiations so it can account for the debt refinancing, and issues such as goodwill impairment.

It has filed a similar notice with U.S. regulators. The financial reports were supposed to have been completed by the end of the first quarter.

The company is trying to refinance the debt of both its Bowater and Abitibi-Consolidated units, and has repeatedly pushed back self-imposed deadlines on when the lenders need to agree to go along with the plan. (Reporting Allan Dowd, editing by Rob Wilson)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below