Judge Says No To Cumulus Refinancing Plan

cumulus-logoA U.S. District Court judge has rejected the refinancing plan Cumulus hoped would help reduce its $2.4 billion debt load, Reuters reports. Cumulus filed suit in December, accusing lender JPMorgan Chase & Co of withholding consent to part of the plan. Cumulus had said that JPMorgan's actions threatened a deal with bondholders that could reduce its debt by more than $300 million.

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