MasTec amends loan to revise fixed charge coverage ratio

By Sara Rosenberg

New York, March 23 - MasTec Inc. amended its $125 million credit facility, modifying the fixed charge coverage ratio requirement as of Dec. 31, 2004 (see table) to ensure compliance based on the net loss the company posted for the year, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

Fleet Capital is the administrative agent on the loan.

The amendment was completed on March 17.

MasTec is a Coral Gables, Fla.-based end-to-end voice, video, data and energy infrastructure solutions provider.

Period Fixed charge coverage ratio

The 9 months ending Dec. 31, 2004 1.50 to 1.00

The 10 months ending Jan. 31, 2005 1.15 to 1.00

The 11 months ending Feb. 28, 2005 1.15 to 1.00

The 12 months ending March 31, 2005 1.20 to 1.00

The 12 months ending April 30, 2005 1.20 to 1.00

The 12 months ending May 31, 2005 1.20 to 1.00

The 12 months ending June 30, 2005 1.25 to 1.00

The 12 months ending July 31, 2005 1.25 to 1.00

The 12 months ending Aug. 31, 2005 1.25 to 1.00

The 12 months ending Sept. 30, 2005 1.50 to 1.00

The 12 months ending Oct. 31, 2005 1.50 to 1.00

The 12 months ending Nov. 30, 2005 1.50 to 1.00

The 12 months ending Dec. 31, 2005 and thereafter 2.00 to 1.00

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