Veritas DGC amends credit facility, changing fixed charge coverage definition

By Sara Rosenberg

New York, Oct. 2 - Veritas DGC Inc. amended its credit facility, changing the fixed charge coverage ratio definition to EBIT for the calculation period minus cash taxes for the calculation period, divided by the sum of current maturities as of that date, and interest expense for the calculation period, according to a filing with the Securities and Exchange Commission.

Wells Fargo Bank and HSBC Bank Canada participated in the amendment agreement.

The credit facility consists of an $80 million revolver for the domestic borrower with a $30 million sublimit for letters of credit and a $20 million revolver for the foreign borrower with a $10 million sublimit for letters of credit, the filing said.

Veritas DGC is a Houston, Tex. provider of integrated geophysical services to the petroleum industry.

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