The
most
important
reason
is
that
the
market
was
awash
with
rumours
that
Vestas’
bank
lenders
were
not
able
to
approve
its
financial
covenants
and
were
about
to
force
a
potentially
damaging
rights
issue
on
the
company.
In
its
pre-emptive
strike,
Vestas
was
able
to
announce
that
the
banks
had
agreed
to
defer
financial
covenant
testing
and
allow
it
both
to
continue
drawing
on
its
credit,
and
show
that
it
had
made
a
substantial
improvement
in
the
second
quarter
compared
with
the
disastrous
Q1,
with
a
recovery
in
the
earnings
before
interest…
