07:18 AM EDT, 07/02/2024 (MT Newswires) -- AutoCanada ( AOCIF ) , a multi-location North American automobile dealership group, on Tuesday amended its credit facility to allow a higher debt-to-Ebidta ratio.

The lenders of the syndicated credit facility agreed to increase the maximum ratio of permitted total net funded debt to Ebitda to 4.5 to 1 from 4 to 1 from June 28 to Sept. 29.

After Sept. 29, the company's maximum permitted total net funded debt to Ebitda ratio will revert to 4 to 1.