TRC amends loan, waiving EBITDA covenant default

By Sara Rosenberg

New York, Dec. 3 - TRC Companies Inc. amended its credit facility, waiving a default with respect to the required minimum EBITDA covenant for the 12-month period ended June 30 and revising that covenant for fiscal 2008 and beyond, according to an 8-K filed with the Securities and Exchange Commission Monday.

In addition, the amendment waived certain events of default relating to the delivery of required information and documents with respect to the company's fiscal June, July and August periods and the fiscal year ended June 30.

Wells Fargo Foothill is the administrative agent on the deal.

The amendment was effective as of Nov. 28.

TRC is a Windsor, Conn.-based company engaged in the creation and implementation of services for the environmental, energy, infrastructure and security markets.

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