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    Tidewater receives limited waiver extensions from its lenders and noteholders

    Company News // September 19, 2016

    Tidewater, which has been in discussions with its principal lenders and noteholders to amend the company's various debt arrangements with regard to certain covenant noncompliance, having previously received limited waivers from the necessary lenders and noteholders which waived the covenant noncompliance until 18 September 2016, has received extensions of the limited waivers of covenant noncompliance until 21 October 2016.

    "Consistent with disclosures included in the company's recently filed Form 10-Q, the company believes that the ongoing discussions with its lenders and noteholders have been constructive and progress is being made towards resolving the principal open issues," said Tidewater. "However, work remains to be done, and no assurance is given that the various parties will reach agreement on amendments to the various loan agreements and notes."

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