(Australia)--April 02, 2009--PaperlinX Ltd's 2009 profit forecast has been downgraded by as much as 64 per cent by analysts after the paper merchant secured an extension of waivers over debt covenant breaches from its bankers.
PaperlinX said on Wednesday it would be hit with $103 million in net interest costs from higher lending margins and bank fees in the second half of 2008/09 after negotiating an extension on waivers relating to the company's non-compliance with its interest rate covenant until May 31.
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