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Ferro obtains waiver, amendment on credit facility
New York, July 1 - Ferro Corp. said it received an amendment and waiver for its credit facility.
The amendment modifies leverage ratio and fixed charge ratio covenants, amend the definition of consolidated EBITDA and waives compliance with financial reporting covenants until March 31, 2006, according to an 8-K filing with the Securities and Exchange Commission.
National City Bank is the administrative agent for the Cleveland-based performance materials manufacturer's credit facility.
Ferro also extended its accounts receivable program via agent Citicorp North America, Inc. to June 29, 2006 from Sept. 30, 2005 and extended the waiver of some reporting requirements to March 31, 2006.
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