American Seafoods struggles with high debt, low fish prices, has ratings agencies warning it may soon default on its massive debt.

American Seafoods Group, whose fleet of big, blue-and-white catcher-processor ships harvests more fish than any other U.S. company, may soon default on some of its massive debt as it struggles with low prices and inadequate cash flow. The Standard & Poor’s credit agency last month lowered its rating of the Seattle company, writing that unless market conditions change, “a default or financial restructuring appears inevitable within six months.” Read the rest here 08:29

  • StripedBassHole

    Has Cape Seafood Associates paid NMFS back the $54 Million earmarked for Groundfish, yet lent to another Fishery. Does NMFS have any FEET left to SHOOT???

  • Bill Diller

    Maybe TNC and EDF can go in together and buy them out