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On April 13, 2016, $SGY was notified that the borrowing base under its bank credit agreement has been redetermined from $500MM to $300MM. $SGY had outstanding borrowings of $457MM and letters of credit of $18.3MM under its credit agreement as of April 13, 2016, resulting in a borrowing base deficiency of $175.3MM.
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.