Triumph Group borrows $350 million under its credit agreement

By Sarah Lizee

Olympia, Wash., March 19 – Triumph Group, Inc. borrowed $350 million under its credit agreement on Wednesday, according to an 8-K filing with the Securities and Exchange Commission.

The company said the borrowing was made “as part of a comprehensive precautionary approach to increase the company’s cash position and maximize its financial flexibility, in light of the current volatility in the global markets resulting from the Covid-19 outbreak.”

Based in Berwyn, Pa., Triumph designs, engineers, manufactures, repairs and overhauls aerospace and defense systems, components and structures.

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