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Cypress Environmental down 39%, Addressing Credit Agreement
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Cypress Environmental down 39%, Addressing Credit Agreement

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April 18, 2022

By Josh Beckerman

Cypress Environmental Partners LP units dropped 39% to 91cs after the company released a “going concern”, warning on Friday. It continues to address a credit contract that matures May 31, and is currently down 39%.


Cypress stated that Cypress and its lenders might pursue options such as “a court-supervised reorganization.”




Cypress, a company that provides environmental services to the municipal water and energy industries, indicated April 1 that one of many possible options was a court-supervised restructuring.


Cypress reported Friday that its fourth quarter net loss was larger than expected. Revenue declined to $33.8 million from $37.8 million, and fell to $27.8million.


Write to Josh Beckerman at [email protected]





																													

																																

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