Monro Muffler gets $135 million credit facility

By Sara Rosenberg

New York, July 14 - Monro Muffler Brake Inc. closed on a new $135 million five-year credit facility that contains a $35 million accordion feature, according to a company news release.

The new facility replaces the company's previous $110 million facility at a rate that is lower by 50 basis points.

"Our new facility provides more favorable interest rates, an extended term, and higher borrowing capacity. As such, we will have additional flexibility to execute our stated acquisition strategy of acquiring reasonably priced companies that will expand our market share in existing or contiguous markets," said Catherine D'Amico, executive vice president and chief financial officer, in the release.

Monro is a Rochester, N.Y.-based provider of automotive undercar repair and tire services.

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