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OFS - McDermott posts $1.9B net loss and delays interest payment - November 2019

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McDermott International faces renewed bankruptcy fears after reporting a Q3 net loss of $1.87 billion on revenue of $2.12 billion. The company exuded other troubling signs: It delayed an interest payment, replaced its CFO, failed to schedule an earnings conference call, revealed a US Securities and Exchange Commission probe and saw construction on its new headquarters stopped. MDR shares closed below $1 on Nov. 8 at $0.97, which is 91% below its 52-week high.......
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