Brief: Sterling Amends Existing Credit Agreement, Significantly Reducing Interest Expense And Enhancing Financial Flexibility

Sterling Infrastructure

30/06/2021 21:25

June 30 (Reuters) - Sterling Construction Company Inc
 STRL.O :
    * STERLING AMENDS EXISTING CREDIT AGREEMENT, SIGNIFICANTLY
REDUCING INTEREST EXPENSE AND ENHANCING FINANCIAL FLEXIBILITY
    * STERLING CONSTRUCTION - AMENDMENT REDUCES CURRENT INTEREST
RATE
ON CREDIT AGREEMENT BORROWINGS BY TWO PERCENTAGE POINTS
    * STERLING CONSTRUCTION - AMENDMENT LOWERS PROSPECTIVE
MANDATORY
QTRLY PAYMENTS ON CREDIT AGREEMENT FROM $12.5 MILLION TO $4.1
MILLION
    * STERLING CONSTRUCTION - EXPECT PRE-TAX INTEREST EXPENSE TO
DECLINE BY ABOUT $1.6 MILLION PER QUARTER FOR BALANCE OF 2021

Source text for Eikon:  ID:nBw2gFFvpa 
Further company coverage:  STRL.O 

 ((Reuters.Briefs@thomsonreuters.com;))