French giant Thomson freezes debt payments

French media technology group Thomson said Monday it would make use of a financial safeguard procedure that will enable it to continue operating while its debt payments are frozen.

AFP - French media technology group Thomson said Monday it would make use of a financial safeguard procedure that will enable it to continue operating while its debt payments are frozen.
  
The company, carrying debt of 2.17 billion euros (3.3 billion dollars) as of September 30, was saved from bankruptcy earlier this year thanks to an agreement with its creditors and has since been considering a debt restructuring plan.
  
The safeguard procedure is reserved for companies in difficulty that have not defaulted on debt payments.

Date created : 2009-11-30