Intrepid Potash dives on Q4 loss and creditor talks

New York

INTREPID Potash Inc, a US producer of the fertiliser, plunged the most in seven years after the company posted a US$518.3 million fourth-quarter loss and said it's in talks with creditors to avoid a breach of its loan covenants amid weaker commodity prices.

The shares fell 55 per cent to 99 cents in New York on Tuesday - the lowest closing price and biggest one-day decline since the company's April 2008 initial public offering.