Daktronics enters into a second amendment to the credit agreement

On november 15, 2019, daktronics, inc. entered into a second amendment to the credit agreement dated as of november 16, 2016, as amended with u.s. bank national association. the amendment extends the maturity date of the credit facility and the related revolving note dated as of november 15, 2016 with the bank from november 15, 2019 to november 15, 2022 and modifies certain terms and financial covenants of the credit facility. the amendment did not change the $35.0 million revolving amount of the credit facility, including up to $15.0 million for commercial and standby letters of credit. as of november 15, 2019, there were no borrowings outstanding under the credit facility, and the balance of letters of credit outstanding was approximately $9.6 million.
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