US Ecology Amends Its Credit Agreement Extending Maturity to 2026 on Its Revolving Credit Facility
US Ecology, Inc. (NASDAQ-GS: ECOL) announced an amendment to its credit agreement, extending the maturity date of its $500 million revolving credit facility to June 29, 2026.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
US Ecology, Inc. (NASDAQ-GS: ECOL) announced an amendment to its credit agreement, extending the maturity date of its $500 million revolving credit facility to June 29, 2026. The CFO, Eric Gerratt, emphasized the amendment’s role in enhancing financial flexibility, allowing the company to fund growth initiatives and strategic acquisitions. The agreement also modifies the net leverage covenant, temporarily raising it to 5.25x as of June 30, 2021, and gradually reducing it to 4.50x by December 31, 2022.
Positive
- Extended maturity date of revolving credit facility to June 29, 2026.
- Enhanced financial flexibility to support organic growth and acquisitions.
- Temporary increase in net leverage covenant to 5.25x, allowing for operational breathing room.
Negative
- None.
Details
News Market Reaction – ECOL
The recorded move for ECOL in the trading session of this news was +1.07%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BOISE, Idaho, June 30, 2021 (GLOBE NEWSWIRE) -- US Ecology, Inc. (NASDAQ-GS: ECOL) (“US Ecology” or “the Company”) announced today that it amended its credit agreement and extended the maturity date on its existing
“We are excited to work with our financial partners to leverage our strong-free-cash flow generation and outlook to restructure and improve our credit facility,” commented Chief Financial Officer, Eric Gerratt. “This modified agreement will supplement our plan to continue to de-lever, while providing us additional liquidity and flexibility to continue to fund our organic growth initiatives and strategic acquisitions over an expanded time horizon.”
Under the terms of the amendment, the Company extended the maturity date of its
About US Ecology, Inc.
US Ecology, Inc. is a leading provider of environmental services to commercial and government entities. The company addresses the complex waste management and response needs of its customers offering treatment, disposal and recycling of hazardous, non-hazardous and radioactive waste, leading emergency response and standby services, and a wide range of complementary field and industrial services. US Ecology’s focus on safety, environmental compliance, and best-in-class customer service enables us to effectively meet the needs of US Ecology’s customers and to build long lasting relationships. US Ecology has been protecting the environment since 1952. For more information, visit www.usecology.com.
Contact: Steven Park, Director of Investor Relations (208) 871-1653
steven.park@usecology.com www.usecology.com
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