11:32 AM EDT, 03/28/2024 (MT Newswires) -- National Bank noted Wednesday that AirBoss of America Corp.'s ( ABSSF ) amendment of its senior secured revolving credit facilities is intended to prioritize delevering.

"No amended credit agreement has been filed yet. As such, we await the filing to get more details around the aforementioned changes related to minimum Adjusted EBITDA and liquidity requirements," the analysts said.

At the end of the fourth quarter, the company had US$29 million of cash on hand with $119 million drawn against its credit facilities.

National Bank has a sector perform rating with a price target of C$6.

The company's stock dropped nearly 3% on last look on Thursday.

Price: 6.05, Change: -0.08, Percent Change: -1.31