Eltel signs agreement with its banks on temporary reset of financial covenant levels
Eltel has signed an amendment agreement of its existing financing agreement with its banks on temporary resetting of the leverage covenant covering the time period from the fourth quarter 2016 until the end of 2017.In October, Eltel communicated that challenges in its project business will result in a significant decline in the Group EBITA for 2016 compared to the level in 2015. In the guidance given in October, Eltel estimates that Group EBITA for the full year 2016 will be in the range of EUR 27-32 million, indicating an EBITA for the fourth quarter in the range of EUR 10-15 million. As a