- AutoCanada (TSX:ACQ:CA) has amended the syndicated credit facility to increase the Company’s maximum permitted Total Net Funded Debt to EBITDA ratio from 4.00:1.00 to 4.50:1.00 for the period from June 28, 2024 to September 29, 2024.
- After September 29, 2024, the Company’s maximum permitted Total Net Funded Debt to EBITDA Ratio will revert to 4.00:1.00.
- This is a precautionary measure taken by the Company and the lenders given the ongoing CDK outage and the unknown impact it may have on the financial results of the Company.
- Source: Press Release
2024-07-02