How the Electric Corp averted a going-concern warning
Though the treasury balks at just stuffing the debt-laden utility with more and more cash, it did agree to guarantee more bonds.
The investigation into the recent NIS 1.4 billion cash-flow projection error at the Israel Electric Corporation is over, but the financial cloud shadowing the utility hasn't lifted. Terrified that a going-concern warning would be tacked onto the debt-laden utility's third-quarter statement, IEC managers met with high-ranking Finance officials on Tuesday to set up mechanisms that would avoid that stark warning to...
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