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$SM said the new financial covenants added to its senior secured credit facility include a maximum senior secured debt-to-trailing 12 months EBITDAX ratio of 2.75 times and a minimum trailing 12 months EBITDAX-to-interest ratio of at least 2 times. The interest rate on the debt is increased 50BP to LIBOR plus 175-275BP.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.