GenCorp amends loan to waive fixed charge coverage ratio for period ended Aug. 31

By Sara Rosenberg

New York, Sept. 7 - GenCorp Inc. amended its credit facility, waiving compliance with the fixed charge coverage ratio for the period ended Aug. 31, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

Furthermore, the amendment allows the company to provide certain seller financing in connection with the sale of its Aerojet Fine Chemicals business in an amount not to exceed the lesser of $30 million and 25% of the total consideration for the sale of the business.

The amendment is effective as of Aug. 31.

Wachovia Bank is the administrative agent on the deal.

GenCorp is a Rancho Cordova, Calif., technology-based manufacturer.

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