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Business, 24.11.2021 14:50 MaeWolfe

Since Jettison was unable to obtain any concessions from National Bank, Jettison reclassified the long-term debt as a current liability. However, within the first three months of the next year, Jettison has been able to correct the debt agreement violation and restore the current ratio to 2.2:1, which is acceptable to National Bank. Therefore, the debt does not have to be repaid early.

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