Kimball Hill gets limited duration credit facility waiver

By Sara Rosenberg

New York, Jan. 28 - Kimball Hill Homes has reached a limited duration waiver agreement with its credit facility lender group that extends it until March 14, according to a company news release.

The waiver allows the company continued access to the credit facility and gives it additional time to reach a final agreement.

During this time, the company plans on working towards getting a new extended term financing agreement with its bank group that appropriately reflects realities of the current economic environment.

Kimball Hill, a Rolling Meadows, Ill.-based homebuilder, has been engaged in constructive discussions with its bank group since last year because it was not in compliance with several of its financing covenants.

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