The concern of the regulating body SVS arose due to the breach of some covenants or conditions, which in its opinion could lead to the salmon farming company having to pay its debts faster than it planned, El Diario Financiero reported.
The company, owned by the Montanari family, acknowledged such concern in a shareholders meeting and decided to restructure all its debt, estimated to be $120 million (€90 million), to the short term.
At the same meeting, shareholders approved a debt increase of up to 25 times the company’s shareholders’ equity, against the current ratio of 5.26
