Clarifying statement of LIT's borrowings

All LIT Search News Topics Latest news Media statements Media contacts Topics Latest news Media statements Media contacts LIT Impact Latest news 2020 June Clarifying statement of UWAs borrowings Clarifying statement of LIT's borrowings 05/06/2020 | 1 MIN A news article in todayΓÇÖs The Australian, with secondary reporting in The West Australian, stated that LITΓÇÖs total debt stood at $134 million. This figure appears to have been drawn from tables in LITΓÇÖs 2019 Annual Report. While the tables were correct at the close of the 2019 Annual Report period, the impacts of the COVID-19 global pandemic have further increased our current debt profile. LIT increased its borrowings by $56 million to date in 2020, to a total of $190 million. At a University level our debt gearing ratio forecast for 2020 is 10 per cent. However, for an institution with unrestricted assets of less than $900 million, this represents a debt ratio of 20 per cent. Travel restrictions associated with the COVID-19 global pandemic prevented almost 1,000 LIT students from arriving in Perth in time to commence their studies in Semester 1, 2020. A further cohort of up to 1,000 LIT students will forego commencement in Semeste

All LIT Search News Topics Latest news Media statements Media contacts Topics Latest news Media statements Media contacts LIT Impact Latest news 2020 June Clarifying statement of UWAs borrowings Clarifying statement of LIT's borrowings 05/06/2020 | 1 MIN A news article in todayΓÇÖs The Australian, with secondary reporting in The West Australian, stated that LITΓÇÖs total debt stood at $134 million.

This figure appears to have been drawn from tables in LITΓÇÖs 2019 Annual Report.

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