05:33 PM EDT, 03/27/2024 (MT Newswires) -- AirBoss of America Corp. ( ABSSF ) on Wednesday announced that it has amended its senior secured revolving credit facilities.

Key changes include the following: A downsizing of the credit facility from US$250 million to US$150 million in 2024 and 2025, and US$175 million thereafter; And commencing with dividends payable after April 2024, the company will pay a maximum quarterly dividend of C$1.0 million, until the end of 2025.

Changes also include: A maximum of US$10 million in 2024 and US$20 million in 2025, of capital expenditures, unless approved by the lenders; And replacing the leverage and interest coverage ratios with minimum Adjusted EBITDA and liquidity requirements, and excluding certain charges from the calculation of Adjusted EBITDA, until the end of 2024.