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Article: Ruth's Hospitality Group, Inc. Amends Credit Agreement.
- Article from:
- Science Letter
- Article date:
- March 17, 2009
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RuthEs Hospitality Group, Inc. (Nasdaq: RUTH) announced that it has amended its credit agreement to provide the Company with requested covenant relief and to make other changes to the agreement (see also RuthEs Hospitality Group, Inc.).
The amendment reduces the revolving loan commitment from $250 million to $175 million, with additional reductions scheduled beginning December 31, 2009 through the final maturity date of February 19, 2013. The amendment decreases the CompanyEs fixed charge coverage ratio and increases its maximum leverage ratio, in each case beginning with the fourth quarter of 2008 and continuing through the second quarter of 2010, after which ...
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