CRESY » Topics » Our subsidiaries dividend restrictions may adversely affect us.

This excerpt taken from the CRESY 20-F filed Dec 30, 2009.

Our subsidiaries’ dividend restrictions may adversely affect us.

We have subsidiaries and hence an important source of funds for us is cash dividends and other permitted payments from our subsidiaries. The debt agreements of our subsidiaries contain covenants restricting their ability to pay dividends or make other distributions. If our subsidiaries are unable to make payments to us, or are able to pay only limited amounts, we may be unable to pay dividends or make payments on our indebtedness.

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