Foothills Resources amends loan, modifying leverage ratio

By Sara Rosenberg

New York, Dec. 8 - Foothills Resources Inc. amended its credit facility, revising the leverage ratio, according to an 8-K filed with the Securities and Exchange Commission on Monday.

The leverage was changed to 10.41:1.00 for the month ended Oct. 31, 10.73:1.00 for the month ended Nov. 30, and 10.96:1.00 for the month ending Dec. 31.

In addition, the amendment extended until Jan. 30 the date by which the company must deliver to the lenders forecasted balance sheets, profit and loss statements and cash flow statements.

The amendment was completed on Dec. 2.

Wells Fargo Foothill is the agent on the deal.

Foothills Resources is a Bakersfield, Calif.-based energy company.

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