Speedcast, in likely breach of loan covenant and facing collapse, gets 2-week reprieve from lenders

by Peter B. de Selding

UPDATE April 20: Speedcast International's creditors have agreed to extend the forbearance agreement to April 24. The company said it "remains committed to working with its customers and suppliers through this unprecedented period to ensure continuity of their critical telecommunications services."

PARIS — Mobile satellite services provider Speedcast International Ltd., almost certainly in breach of its loan covenants and risking collapse, has secured a 15-day forbearance agreement from its lenders as it seeks longer-term funding.

Speedcast, overextended with certain of its acquisitions, told investors in . . .

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