Brink’s amends credit facility to provide additional financial flexibility

Richmond, va., june 12, 2020 (globe newswire) -- the brink’s company (nyse:bco) today announced an amendment to its existing credit agreement that provides long-term covenant relief and added flexibility to execute its strategic plan. the amendment changes the methodology for calculating the company’s leverage ratio by using a net first lien leverage ratio (net secured debt leverage ratio) instead of a total net debt leverage ratio.  the new ratio excludes unsecured debt, which was approximately $600 million as of march 31, 2020, from leverage ratio calculations through the expiration of the agreement in 2024.
BCO Ratings Summary
BCO Quant Ranking