Lodging REIT Hersha Hospitality (HT), which wisely suspended their common and preferred dividends last month, has announced further moves to strengthen their financials.
The company drew down an extra $100 million on their revolver. Additionally, and importantly, they negotiated waivers on their debt covenants for the next year.
These are very wise moves and give me confidence they can be a survivor.
The company press release is here.