Tupperware forgoes paying down on revolver amid tight credit markets

By Susanna Moon

Chicago, Oct. 21 - Tupperware Brands Corp. said it decided against using about $55 million of its $146 million cash balance in September to pay down revolving credit borrowings over the end of the quarter.

The company said it skipped paying down the debt in light of conditions in the external credit markets.

The company's main source of credit and funding is its $800 million facility that runs through September 2012, which includes $200 million in revolving borrowing capacity.

As of September, revolving credit borrowings were $100 million of the $200 million available.

The issuer is an Orlando, Fla.-based manufacturer and distributor of kitchen ware, cosmetics and personal care products.

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