Cypress Environmental Down 39%, Addressing Credit Agreement

Dow Jones

2022/04/19

By Josh Beckerman

Cypress Environmental Partners LP units were recently down 39% to 91 cents after the company reported a "going concern" warning Friday as it continues to address a credit agreement that matures May 31.

Cypress said the company and its lenders may pursue options including "a court-supervised restructuring."

Cypress, which provides environmental services to the energy and municipal water industries, said April 1 that a court-supervised restructuring was one of several potential options.

On Friday, Cypress reported a wider fourth-quarter net loss as revenue fell to $27.8 million from $33.8 million.

Write to Josh Beckerman at josh.beckerman@wsj.com

$(END)$ Dow Jones Newswires

April 18, 2022 13:20 ET (17:20 GMT)

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