Cars.com inc. amends credit agreement to increase flexibility and further strengthen liquidity position

Cars.com inc. announced the completion of an amendment to its existing credit facility, which resets the total net leverage covenant during the remaining term of the credit agreement while preserving the favorable pricing structure from the original agreement. the amendment increases the company's maximum total net leverage ratio from 3.75x to 4.50x with incremental step downs through maturity on may 31, 2022. at june 30, 2019, the company's total net leverage was 3.25x.
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