Libbey, Inc. (LBY) News
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Latest LBY News From Around the Web
Below are the latest news stories about Libbey Inc that investors may wish to consider to help them evaluate LBY as an investment opportunity.
Libbey files for bankruptcyLibbey (LBY) has filed for voluntary Chapter 11 bankruptcy, and its international subsidiaries in Canada, China, Mexico, the Netherlands and Portugal aren't included in this proceedings. The company's existing lenders have agreed to provide up to $160M in debtor-in-possession financing, including a $100M revolving credit facility and a $60M term loan. Mike... |
Libbey Glass Inc. -- Moody's downgrades Libbey's PDR to D-PD following chapter 11 filingMoody's Investors Service, ("Moody's") downgraded Libbey Glass Inc.'s (Libbey) Probability of Default Rating (PDR) to D-PD from Caa2-PD following the company's announcement that it has filed for protection under Chapter 11 of the US Bankruptcy Code[1]. At the same time Moody's downgraded Libbey's Corporate Family Rating (CFR) to Ca from Caa2 and the company's senior secured first lien term loan to Ca from Caa2. |
Glassware Maker Libbey Goes Bankrupt With Bars, Restaurants Shut(Bloomberg) -- Libbey Inc., the U.S. glassware maker, filed for bankruptcy after the Covid-19 pandemic intensified a burdensome debt load and strained its access to cash.The company filed for Chapter 11 protection from creditors in Delaware after the virus and related state-imposed lockdowns gutted demand for its tumblers, mugs and bowls among key food-service customers like restaurants and bars. Libbey had been reviewing its debt pile before the outbreak and had already tried and failed to refinance its term loans, according to court papers.Libbey listed assets of as much as $500 million and liabilities of at least that amount in its bankruptcy petition. The company reported about $400 million of long-term debt in its annual report released in February. Its international business entit... |
Libbey, Glass Tableware Maker, Files for BankruptcyLibbey has suffered greatly from the coronavirus pandemic. The filing doesn't apply to its overseas units. |
Libbey Commences Chapter 11 Reorganization with $160 Million in Agreed FinancingLibbey Inc. (NYSE American: LBY) ("Libbey" or the "Company"), one of the world's largest glass tableware manufacturers, today announced that the Company and its U.S.-based subsidiaries have filed voluntary petitions for a court-supervised reorganization under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. Libbey's international subsidiaries in Canada, China, Mexico, the Netherlands and Portugal are not included in the Chapter 11 proceedings and are operating in the normal course of business. |
Libbey Provides Additional Business Update on COVID-19 ResponseLibbey Inc. (NYSE American: LBY) ("Libbey" or "the Company"), one of the world's largest glass tableware manufacturers, today announced additional actions the Company is taking in response to the COVID-19 pandemic. |
Libbey Provides Update on U.S. OperationsLibbey Inc. (NYSE American: LBY), one of the world's largest glass tableware manufacturers, today announced temporary changes to its U.S. operations in response to the continued spread of COVID-19 and uncertainty regarding the potential impact on the Company's business demand. |
Edited Transcript of LBY earnings conference call or presentation 25-Feb-20 4:00pm GMTQ4 2019 Libbey Inc Earnings Call |
Libbey Glass Inc. -- Moody's downgrades Libbey's CFR to Caa2; changes outlook to negativeMoody's Investors Service, ("Moody's") downgraded Libbey Glass Inc.'s (Libbey) Corporate Family Rating to Caa2 from B3 and Probability of Default Rating to Caa2-PD from B3-PD. At the same time, Moody's downgraded the rating for the company's senior secured first lien term loan to Caa2 from B3 and lowered the Speculative Grade Liquidity to SGL-4 from SGL-3. The downgrades and negative outlook reflect the increased refinancing risk related to the company's senior secured term loan due April 9, 2021, and the associated risk of constrained liquidity as the term loan facility becomes current in April 2020. |
Here's What Analysts Are Forecasting For Libbey Inc. After Its Full-Year ResultsInvestors in Libbey Inc. (NYSEMKT:LBY) had a good week, as its shares rose 9.3% to close at US$1.53 following the... |