Brazos Electric says the winter storm that devastated Texas left it in “a liquidity trap that it cannot solve with its current balance sheet.”
Many increased their short-term investments in products offered by banks compared with 12 months ago, according to the AFP.
With cruise sailings suspended, the company says it may not have sufficient liquidity to meet its debt obligations over the next 12 months.
The key to survival in a recession is to anticipate a lender’s every move and every question.
The world's largest cruise operator is grappling with a heavy debt burden as it ships remain idled due to the coronavirus pandemic.
The new FIMA Repo Facility is the Fed's latest move to relieve stresses in financial markets resulting from the coronavirus crisis.
"The strong U.S. dollar is slamming global capital markets like a sledgehammer today."
"This is a full-blown crisis response operation, intended to make it abundantly clear that the Fed will not allow liquidity to dry up."
While it's too early to measure the impact the disease will have on companies, finance chiefs should be prepared to deal with these risk factors.
The company has also closed 38 locations as it struggles with declining mall traffic and a shift away from casual dining.
The Board of Governors voted 4-1 in favor of the changes, with the dissenter saying they would weaken core safeguards.
“For the foreseeable future, we’re going to be looking at doing the sorts of things we did the last two days," Fed Chair Jerome Powell says.
