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The Cato ( (CATO) ) has issued an announcement.
On March 13, 2025, The Cato Corporation entered into a new asset-based revolving credit facility agreement with Wells Fargo Bank, replacing a prior credit agreement from May 2022. This new facility allows for up to $35 million in credit, with potential expansion to $50 million, and will support the company’s working capital and general corporate needs. The agreement includes various financial covenants and restrictions, ensuring the company’s obligations are secured by its assets. The facility matures in 2028 and offers flexibility in borrowing and repayment terms, impacting the company’s financial operations and stakeholder interests.
More about The Cato
YTD Price Performance: -19.36%
Average Trading Volume: 75,157
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $62.43M
For a thorough assessment of CATO stock, go to TipRanks’ Stock Analysis page.