Crompton Amends Bank Credit Agreement.Business Editors GREENWICH, Conn.--(BUSINESS WIRE)--Sept. 25, 2001 Crompton Corporation Crompton Corporation, formerly Crompton and Knowles, is a chemical research, production, sales and distribution company headquartered in Middlebury, Connecticut. The company produces specialty chemicals used for polymers, fire suppressants and retardants, pool and spa water (NYSE NYSE See: New York Stock Exchange :CK) today announced that it has amended its five-year bank credit agreement pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to its debt/EBITDA (earnings before interest, taxes, depreciation and amortization Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP metric that can be used to evaluate a company's profitability.
Pursuant to the amendment, the company must maintain a coverage ratio of 4.25 to 1 or less as of July 1, 2001, with the level reducing to 3.5 to 1 or less by January 1, 2003. Crompton Corporation is a $3 billion producer and marketer of specialty chemicals and polymer products providing the solutions, service and value our customers need to succeed. More information about the company can be found at www.cromptoncorp.com. |
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