As the economic gloom deepens, companies that only a year ago were seeking ways to expand their business are now trying to ride the storm and survive.rnGenco Shipping & Trading, the dry bulk shipping group listed in New York, is suspending dividends, buying back its own shares and agreeing with lenders on waiver of a collateral maintenance covenant of a credit facility.rn"Under terms of the amended ten-year, $1.4Bn credit facility, the collateral maintenance requirement will be waived until such time that Genco Corporation is in a position to satisfy the covenant and certain other conditions," the company said.
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