Update on financial covenants for bank debt as of Q2 2024
Reference is made to the stock announcement made by NRC Group ASA (the "Company") on 12 July 2024 referring to, inter alia, compliance with its financial covenants for both bank and bond debt as of Q2 2024. While the Company was in compliance with the financial covenants under its bond debt, it has come to the Company's attention that the Company was in non-compliance with the interest coverage ratio covenant ("ICR") under its bank debt facility agreement per the end of Q2 due to an agreed change in the interpretation of the ICR. The Company has already obtained a waiver from the bank