Kansas City Southern gets waiver of financial covenants

By Sara Rosenberg

New York, April 4 - Kansas City Southern obtained a waiver of the existing financial covenants in its credit agreement in order to provide flexibility in structuring the funding for the possible purchase of the Mexican government's interest in TFM after Oct. 31, 2003.

"Although the company's cash position would have allowed it to meet its financial covenants as of March 31, 2003, the Company sought this waiver in order to maintain its current cash position while analyzing financial alternatives," a news release said.

More then 96% of the lenders approved the waiver.

Kansas City Southern is a Kansas City, Mo. transportation holding company that has railroad investments in the U.S., Mexico and Panama.

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