Kronos International gets waiver of debt ratio in credit facility

By Sara Rosenberg

New York, June 24 - Kronos International Inc. received a waiver of the debt ratio under its revolving credit facility for the 12-month period ending June 15, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

The waiver, which was obtained on June 18, moved the next required debt ratio measurement period to the 12-month period ending Aug. 31.

Deutsche Bank is the administrative agent on the deal.

As previously reported, the company is in talks with lenders to amend the revolver to eliminate the debt ratio requirement until at least march 31, 2010.

Kronos is a Dallas-based producer and marketer of titanium dioxide pigments.

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