Atlas Air to terminate credit facilities next week

By Sara Rosenberg

New York, July 28 - Atlas Air Worldwide Holdings, Inc. plans to terminate its exit facility with Wachovia and its two existing credit facilities with Deutsche Bank, according to an 8-K filed with the Securities and Exchange Commission Friday.

The exit facility, which currently has no outstanding balances, will be terminated on or before Aug. 3.

The Deutsche credit facilities have a balance of about $141 million, which will be repaid using cash balances on July 31.

Atlas Air is a Purchase, N.Y. provider of air cargo and related services worldwide.

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