FMC says it has increased the maximum leverage allowed under its term loan and credit agreements. The maximum allowable leverage ratio will now be 4.25 through 31 December 2020, 4.0 through 21 March 2021, and 3.5 through 30 June 2021. The previous maximum ratio was 4.0 through 31 March 2020, stepping down to 3.5 through 30 June 2020. A leverage ratio is a ratio of debt to equity capital. The higher maximum ratio will allow FMC to access more funds through its term loan and credit facilities. “We have no concerns about our liquidity,” says Pierre Brondeau, chairman and CEO of FMC.
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