Globalstar Slows Payments For New System

摘要

Mobile satellite services operator Globalstar Inc., its revenue stream slowing to a trickle because its current satellites no longer provide regular two-way communications, has slowed payments to contractors building its second-generation satellites and is unlikely to launch the first of those craft before early 2010, according to industry officials.rnA promised $574 million loan guarantee by the French export-credit agency, Coface, which is still being finalized, will probably not provide the necessary cash injection in time to prevent the first launch from slipping into 2010,rnofficials said.