Evercom amends senior credit facility to extend forbearance period

By Sara Rosenberg

New York, June 7 - Evercom Inc. said it entered into a fourth amendment of its senior credit facility, which extends the existing forbearance period until June 28.

As was previously announced, the Irving, Tex. inmate telecommunications systems provider is in default under certain covenants of the credit facility agreement. However, due to the forbearance agreement, senior lenders will not exercise remedies available to them during the period ending June 28, 2002, Evercom said.

"The company is in the process of exploring strategic and financial alternatives. These explorations include discussions with potential investors, the company's investors and creditors, and potential strategic partners," Evercom said in a new release.

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