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ATA amends credit agreement to change covenants starting date
By Caroline Salls
Pittsburgh, May 17 - ATA Holdings Corp. amended its credit agreement with Southwest Airlines Corp., changing the starting date for the periods in which the minimum consolidated EBITDARR and minimum adjusted EBITDARR financial covenants are effective on its debtor-in-possession financing, according to an 8-K filing with the Securities and Exchange Commission.
The effective date was changed to May 1 from April 1.
Without the amendments, ATA would not be in compliance with the financial covenants in the DIP facility, the filing said.
Indianapolis-based ATA, the parent of ATA Airlines, filed for bankruptcy on Oct. 26, 2004 with the U.S. Bankruptcy Court for the Southern District of Indiana. The case number is 04-1986.
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