C&D Technologies amends loan to change rates, add covenants

By Sara Rosenberg

New York, April 22 - C&D Technologies Inc. amended its credit facility, changing interest rates and establishing financial covenants including a fixed charge coverage ratio, a leverage ratio and a minimum consolidated net worth requirement, according to an 8-K filed with the Securities and Exchange Commission Friday.

Furthermore, for one year, the company must maintain specified minimum trailing EBITDA levels.

Bank of America is the administrative agent on the loan.

The Blue Bell, Pa.-based technology company's amendment was completed on Thursday.

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