Chiquita Secures Amendment To Financial Covenants.
PR Newswire Europe, November, 2006
CINCINNATI, November 10 /PRNewswire/ --
Chiquita Brands International, Inc. (NYSE: CQB) announced today that, as anticipated, the company amended its credit agreement dated as of June 28, 2005, with a syndicate of banks and financial institutions. This amendment modifies certain financial covenants relating to leverage and fixed charge coverage; establishes new levels for compliance with those covenants to provide additional financial flexibility; and amends the interest rate applicable to borrowings outstanding under the credit agreement.
The amendment to the credit agreement, effective Nov. 8, 2006, among Chiquita Brands LLC, Chiquita Brands International, Inc., certain financial institutions as lenders, and Wachovia Bank, N.A., as administrative...
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