Radian gets loan waiver to suspend ratings covenants

By Sara Rosenberg

New York, April 10 - Radian Group Inc. obtained a waiver under its credit facility, providing for a suspension of the ratings covenant, according to a news release.

The company is not currently in default of that covenant, but has requested temporary relief from it so as to gain sufficient time to discuss a definitive amendment, which must be entered into by April 30, to avoid reinstatement of the covenant.

During the waiver period, the company may not borrow any additional amounts under the credit facility.

Radian is a Philadelphia-based credit risk management company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.