Shaw Group extends credit agreement
The Shaw Group Inc. says it has extended its credit agreement to a possible $1 billion.
Baton Rouge-based Shaw says the entire amount can be issued for performance and financial letters of credit and loans for capital needs and general corporate purposes.
The credit agreement also enables Shaw to seek additional secured commitments of up to a total of $400 million. It will become unsecured after Shaw’s current corporate credit ratings are upgraded one level and liens securing supplemental credit agreements are released. — AP
- TechNews
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