December 22, 2017 / 7:47 AM / a year ago

Britain's Carillion says refinancing talks 'progressing well'

Dec 22 (Reuters) - British builder Carillion Plc on Friday said it was still in discussion with stakeholders regarding its options to reduce debt and avoid a breach of debt covenants and expected to take action in the first quarter of 2018.

“These discussions are progressing well, and the board still expects to determine the approach and to commence steps to implement the chosen option during the first quarter of 2018,” said Carillion, which has seen its market value plunge by 90 percent after three profit warnings.

Reporting by Rahul B in Bengaluru; editing by Jason Neely

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