Agilysys cancels $200 million credit facility

By Sara Rosenberg

New York, Jan. 22 - Agilysys Inc. terminated its $200 million five-year unsecured credit facility with Bank of America, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

As of Oct. 17, the company's ability to borrow under the facility was suspended due to the failure to timely file a 10-K for March 31, 2008.

The company said that being that it had not drawn on the facility since it was obtained in October 2005, the decision was made to terminate the deal so as to avoid paying fees.

Agilysys is a Solon, Ohio-based provider of information technology services to corporate and public-sector customers.

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