Meadowbrook Receives Waiver for Covenants, Will Pay Dividend
Meadowbrook Insurance Group Inc., the insurer that had its rating cut this month by A.M. Best, said it received a waiver from lenders after violating two financial covenants.
The waiver is effective until Sept. 20 and allows the company to pay its scheduled common-stock dividend next week, the Southfield, Michigan-based company said today in a statement distributed by PR Newswire.
Editor: Steven Crabill
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