Mirant obtains extension on credit agreement

By Carlise Newman

Chicago, May 30 - Mirant Corp. obtained an extension on its credit agreement to July 14. The former maturity date was April 18.

The extension waiver includes a provision that limits the future use of letters of credit to existing beneficiaries and at no more than current levels.

The Atlanta-based energy company said in a news release it continues to be in discussions with its creditors regarding its financial restructuring. The company added that it is currently unable to provide additional details associated with those discussions or the terms of its waiver agreement.

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