Lenox amends, revising and waiving non-compliance of leverage, interest coverage ratios

By Sara Rosenberg

New York, Feb. 14 - Lenox Group Inc. amended its credit facility, adjusting the leverage and interest coverage ratios and waiving non-compliance with these ratios as of Dec. 31, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

The waiver of non-compliance is in effect through April 30.

In addition, the amendment increased pricing on the term loan by 25 basis points, extended the delivery date of the company's budget report to March 15 for fiscal year 2007 and established a $5 million minimum borrowing availability.

The amendment was completed on Feb. 9.

UBS is the administrative agent on the deal.

Lenox is an Eden Prairie, Minn.-based tabletop, collectible and giftware company.

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