Viad enters amendment to credit agreement to remove liquidity covenant

By Jennifer Chiou

New York, Nov. 15 - Viad Corp. executed an amendment to its $130 million credit agreement dated May 18, 2011 to remove the liquidity covenant that required it to maintain no less than $50 million of unrestricted cash and cash equivalent investments at all times, according to an 8-K filing with the Securities and Exchange Commission.

The company is no longer required to keep any minimum amount of unrestricted cash and cash equivalent investments, according to the Nov. 14 filing.

JPMorgan Chase Bank, NA is the lender, swingline lender and administrative for the revolver due May 2016.

The Phoenix-based company provides services for exhibition organizers as well as travel and recreation services.

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