An announcement from ModivCare (MODV) is now available.
ModivCare Inc. revamped its financial strategy by amending its Credit Agreement, notably extending the maturity date of existing revolving commitments to February 2028 and initiating a new term loan facility of $525 million with a staggered maturity date up to July 2031. This strategic move allowed the company to redeem all outstanding 5.875% Senior Notes due in 2025, thus redefining its debt structure and potentially signaling a stronger financial posture. The amendment also adjusted financial covenants and reduced minimum required liquidity, indicating a more flexible financial framework for the company moving forward.
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