STEP Energy Services (TSE:STEP) has released an update.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
STEP Energy Services Ltd. has revised and prolonged its credit agreement with Canadian banks, securing a CAD $200 million syndicated facility and USD $15 million operating facility, with a new maturity date set for September 27, 2027. The agreement includes financial covenants that ensure a sustainable debt to EBITDA and interest coverage ratio. This strategic financial move underlines STEP’s commitment to maintaining a robust financial foundation while delivering modern and safe energy services.
For further insights into TSE:STEP stock, check out TipRanks’ Stock Analysis page.