The Financial Post reports in its Saturday, Jan. 11, edition that the chorus of voices warning of risks to Aurora Cannabis's balance sheet is growing louder. A Bloomberg dispatch to the Post reports that with a $360-million loan coming due in August, 2021, at least three analysts have cautioned that Aurora may be unable to meet the covenants on that debt. Bank of America analyst Christopher Carey says, "With balance sheet risks to remain a core investment thesis in 2020 in our view, and lingering uncertainty especially on financial covenants, we struggle to envision a scenario where shares have sustainable support." He cut Aurora to "underperform" from "neutral" and cut his share target to $1.50 from $4. Ultimately, Mr. Carey expects Aurora will be able to restructure the covenants, "a big step in helping investor confidence." Aurora shares are down 83 per cent from their high in March. Grizzle analyst Scott Willis says Aurora could be headed for "technical default" if it fails to meet its covenants. He expects Aurora to write down more than $2-billion of goodwill and intangible assets, sending its equity value below the minimum required in the debt covenants.