Not working at McDermott but a supplier for the Tank Division in Houston. We're being paid, not entirely according to schedule but still paid. Contract value of USD 5 Mio +.
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Well, this changes everything. I'll just call S&P right now and tell them to move the credit rating back up to where it was yesterday.
Assume you are a small contractor still doing work for MDR, right? An old trick to keep vendors working is to pay them a little and keep making small payments and promise to pay in full eventually. They know if they stop work altogether you will cut them off and they will get nothing. working at a loss keeps the lights on.
Or maybe I'm wrong. Maybe everything IS suddenly AWESOME!!
Congratulations. Take some of that money and your extraordinary good luck and go buy yourself some lottery tickets. All you need to do is look at the MDR balance sheet and see how many suppliers are not being paid.