debt
confidence high
sentiment positive
materiality 0.55
Cross Country Healthcare amends ABL credit agreement to ease share repurchase restrictions
CROSS COUNTRY HEALTHCARE INC
- Amendment No. 7 to ABL Credit Agreement with Wells Fargo, dated July 29, 2024, relaxes share repurchase covenant.
- Share repurchases before June 30, 2024 and future repurchases allowed if no revolving ABL loans outstanding (excluding interest/fees).
- Repurchases excluded from fixed charge coverage ratio calculation, giving more capital-return flexibility.
- No default or event of default exists as of amendment effective date; representations and warranties reaffirmed.