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JBF says working with lenders, plants running 'satisfactorily'


REUTERS - Indian polyester maker JBF Industries said on Thursday it was working with its lenders to resolve cashflow issues and it stressed that all plants were running "satisfactorily."The stock closed 5.9 percent higher, having hit a three-year low earlier in the session. It has dived more than 20 percent this week over lingering concerns about the company's debt.Banking sources told Reuters this week that JBF RAK, an affiliate of JBF Group in the United Arab Emirates, is in talks with banks there about renegotiating about 2 billion dirhams ($544.53 million) of debt.JBF's board is also due ...

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First Published: Thu, August 10 2017. 16:04 IST