Mobile satellite services operator Globalstar on May 21 sought to convince investors that the company's six-year slide, which began in 2007 with satellite performance issues and more recently centered on financial solvency questions, is now at an end. Covington, La.-based Globalstar still needs to come to definitive terms with its ground-network providers, Hughes Network Systems and Ericsson, and with its satellite prime contractor, Thales Alenia Space of France and Italy, on payment schedules and other matters. Globalstar has said it would like to purchase a final six satellites, but has not yet signed a contract to do so. Separately, the company must almost immediately finalize what it said is an already-negotiated agreement on payment terms for its $586.3 million bank loan, 95 percent of which is guaranteed by the French export-credit agency, Coface.
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