DynCorp draws $90 million under its revolver, cures temporary default

By Susanna Moon

Chicago, May 14 - DynCorp International Inc. said it made a $90 million drawdown under its revolving credit facility at quarter-end to provide additional liquidity as it completed its financial statements.

The company then repaid the outstanding revolver balance in April, according to an earnings release for the first quarter ended March 30 by parent company Delta Tucker Holdings, Inc.

Also, the company was temporarily in default on March 30 under its revolver for missing the March 29 deadline to deliver annual financial statements to the administrative agent.

The annual financial statements were filed on April 9, curing the default and restoring full access to the revolver, the release noted.

The company is a Falls Church, Va.-based government contractor.

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