Banks ease debt terms for ailing Alstom

Alstom's creditors have significantly loosened conditions attached to their loans ahead of the European Union's decision on whether to approve a state-backed rescue of the French engineering group.

Under the terms of the new covenants agreed with its banks, Alstom need only ensure that it is not loss-making in September 2005. There are no covenants governing earnings requirements either before or after that date.

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