East African Breweries Limited #ticker:EABL (EABL) has received a three-year extension to remain in breach of terms attached to its Sh6 billion corporate bond, that required its current assets including cash to match short-term liabilities like supplier debt.
The brewer was required to maintain a current ratio — a measure of a company’s ability to meet its short term obligations — of at least 1 but this has proved elusive since last year, with Coivd-19 complicating the situation.
