MILAN Jan 28 Italian yellow pages company Seat
Pagine Gialle said on Monday it had decided to suspend
the payment of 42.2 million euros ($56.8 million) of interest
due on Jan 31 on senior secured notes, as its business
It said its 2011-2013 strategy plan as well as 2015 target
set by previous management were under review.
The decision comes as the company carries out an assessment
of its debt and asset profile on the back of worsening economic
and market conditions, according to a statement.
Seat, which underwent radical debt restructuring, said any
decision on the interest payment will depend on the outcome of
the assessment and will be made before the end a grace period.
Seat said it had enough financial resources to meet coming
debt maturities. Its board will meet again before Feb. 6.
($1 = 0.7429 euros)
(Reporting By Danilo Masoni, editing by Stepehen Jewkes)