DISTRESSED DAILY: Travel Restrictions Suppress CIBT’s Recovery

KCIBT Holdings, a third-party supplier of visas, passports, and immigration-related journey documentation for companies, is liable to triggering a liquidity shortfall inside the subsequent 12 months if the tempo of restoration for worldwide enterprise journey decelerates, based on S&P World Rankings.

Headquartered in Virginia, CIBT’s enterprise journey volumes, significantly to areas that require visas for entry, stay properly beneath pre-pandemic ranges as worldwide journey restrictions and macroeconomic headwinds persist. On the heels of a gradual restoration, S&P expects CIBT to generate a small free working money circulation deficit in 2022 and maintain $718 million of adjusted debt at …