Westinghouse files for Chapter 11 protection in US and secures $800M in DIP financing to fund operations
Green Car Congress
MARCH 29, 2017
Westinghouse has obtained $800 million in debtor-in-possession (DIP) financing from a third-party lender to help fund and protect its core businesses during its reorganization. The financing will also allow for new letters of credit to be issued. Existing letters of credit have been cash collateralized in full and will remain in place.
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