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Tidewater's management is of the view that substantial progress has been made in the negotiations during the past week, and after further discussion with its lenders and noteholders, all parties agreed to a further short-term covenant waiver while they focus on bringing the negotiations to conclusion. The company has now received limited waivers of the covenant defaults from its lenders and noteholders until
Tidewater is the leading provider of OSVs to the global energy industry.
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Tidewater Inc., New Orleans, Joe Bennett, Executive Vice President and Chief Investor Relations Officer, 504-566-4506