Released on: October 27, 2007, 4:30 pm

Press Release Author: Biz-24

Industry: Financial

Press Release Summary: According to new research by Ovetii, some of Europe\'s
largest companies are in danger of breaching their debt covenants and may increase
the risk borne by their creditors.

Press Release Body: According to a source close to the Athens based firm, of
non-financial European companies with a market capitalization higher than $500
million, as many as 28 could breach their covenants as a result of their deep
exposure to debt and poor liquidity.

The source went on to say that research by Ovetii had revealed that banks and
companies have apparently struggled to raise capital to repay debt since August
because of the credit squeeze, which effectively froze the market for asset-backed
commercial paper.

Debt covenants are agreements between borrowers and lenders that the borrower
operate within certain limits. A breach will increase the risk to creditors of
non-repayments and usually leads to a renegotiation of debt on terms less favourable
to the borrower.

Web Site: http://www.ovetii.com

Contact Details: Glyfada
Athens
Greece

Tel No: +30-211-268-6701
Fax No: +30-211-268-6702