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Georgia Gulf Amends Loan Agreement, Moody's Updates Credit Rating

9:15 AM MST | January 14, 2011 | Lindsey Bewley

Georgia Gulf says it has amended and extended its $300 million asset based loan agreement with its lenders. The amended agreement will mature in January 2016, two years later than the previous agreement. The interest rate on the agreement was reduced from a range of LIBOR plus 325-400 basis points to a range of LIBOR plus 250-300 basis points. Additionally, the $15 million availability block in the previous agreement was removed and the overall fee structure was reduced, Georgia Gulf says.   “This new agreement reflects Georgia Gulf’s strong...

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