Brief: Stoneridge Enters Into Waiver And Amendment No. 1 To Fourth Amended And Restated Credit Agreement

Stoneridge

01/07/2020 21:52

July 1 (Reuters) - Stoneridge Inc  SRI.N :
    * STONERIDGE INC - ENTERED INTO A WAIVER AND AMENDMENT NO. 1
TO
FOURTH AMENDED AND RESTATED CREDIT AGREEMENT
    * STONERIDGE INC - FOURTH AMENDED AND RESTATED CREDIT
AGREEMENT
PROVIDES FOR A $400.0 MILLION SENIOR SECURED REVOLVING CREDIT
FACILITY
    * STONERIDGE INC - AMENDMENT NO. 1 TO CREDIT AGREEMENT
PROVIDES
FOR CERTAIN COVENANT RELIEF AND RESTRICTIONS DURING "COVENANT
RELIEF PERIOD"
    * STONERIDGE INC - DURING COVENANT RELIEF PERIOD MAXIMUM NET
LEVERAGE RATIO IS SUSPENDED
    * STONERIDGE INC - DURING COVENANT RELIEF PERIOD, MINIMUM
INTEREST
COVERAGE RATIO COVENANT IS REDUCED FOR QUARTERS ENDED DECEMBER
31 & MARCH 31, 2021
    * STONERIDGE INC - DURING COVENANT RELIEF PERIOD, COMPANY'S
LIQUIDITY MAY NOT BE LESS THAN $150 MILLION

Source text(https://bit.ly/2AlaLZY)
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