Kronos in talks with lenders on removing debt to EBITDA covenant

By Sara Rosenberg

New York, May 6 - Kronos has begun discussions with lenders about amending the terms of its European credit facility to eliminate the net secured debt to EBITDA requirement until at least March 31, 2010, according to a 10-Q filed with the Securities and Exchange Commission on Wednesday.

The company already had to waive the requirement for the 12-month period ended March 31 and for the 12-month period ended April 30.

The most recent waiver, obtained on April 29, moved the next required financial ratio measurement period to the 12-month period ending June 15.

Kronos is a Dallas-based producer and marketer of titanium dioxide pigments.

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