L-3 Communications amends loan, removing senior leverage ratio covenant

By Sara Rosenberg

New York, Oct. 25 - L-3 Communications Corp. amended its credit facility on Wednesday, eliminating the senior leverage ratio covenant in its entirety, according to an 8-K filed with the Securities and Exchange Commission.

In addition, the amendment allows the company to exclude, as a non-recurring cost, the $125.6 million litigation charge related to the OSI Systems, Inc. matter from the calculation of EBITDA.

Bank of America is the administrative agent on the deal.

L-3 Communications is a New York-based producer of secure and specialized systems for satellite, avionics and marine communications.

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