Kronos gets loan waiver of compliance with debt ratio

By Sara Rosenberg

New York, March 26 - Kronos International Inc. received a waiver from its bank group regarding compliance with the debt ratio for the 12-month period ending March 31, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

In addition, the waiver moved the next required debt ratio measurement period to the 12-month period ending April 30.

The company is in talks with lenders about amending the facility to remove the debt ratio altogether.

If an amendment is not obtained, the company will look to refinance the facility with a new group of lenders or would use its existing liquidity resources.

Deutsche Bank is the agent on the deal.

The waiver was obtained on March 20.

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

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