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0.00374531835206007 0.00124843945068662 -0.0111360799001247 -0.00938826466916351 -0.0499375780274656 -0.0767540574282147 -0.0786516853932583 -0.0998751560549313
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StoneMor Partners: Technical Default, What's Next? [Seeking Alpha]

STONEMOR PARTNERS (STON)  More Company Research Source: Seeking Alpha
US:NYSE Investor Relations: stonemor.com/investors/default.aspx
PDF Summary On Monday StoneMor Partners ( STON ) provided an update regarding the ongoing accounting review, stating that the company does not expect to file its 2016 10-K by the July 15 th deadline, and that it also does not expect to file its Q2 10-Qs by the August 14 th deadline. Shares have fallen by 12% since then, and I believe that this negative reaction is completely justified. Matter of Survival These are not just your run of the mill exchange mandated deadlines—which are also important, as I believe that the company needs to tap the equity market to fund the distribution (read Short StoneMor Partners ). These are deadlines imposed by lenders that operate the credit facility . In the 8-K filed on Monday, the company stated that “t he Partnership’s failure to file the Form 10-K before July 15, 2017 was an event of default under its revolving credit agreement.” This means is that the company has technically defaulted under the terms of the credit a [Read more]

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