PROTECTION ONE ANNOUNCES INCREASE IN REVOLVING CREDIT FACILITY TO $75 MILLION.CULVER CITY Culver City, city (1990 pop. 38,793), Los Angeles co., S Calif., a residential suburb of Los Angeles; inc. 1917. It is a center of the U.S. motion-picture industry, whose roots in the city date to c.1915. Its chief manufactures are rubber products and computers. , Calif.--(BUSINESS WIRE)--June 23, 1995--Protection One (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market symbol:ALRM ALRM African Leadership and Reconciliation Ministries (Kigali, Rwanda) ALRM Address Learning and Reflection Module ) announced today that it obtained an increase in its revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility from $60 million to $75 million through the addition of a new participant bank. Borrowings under the revolving credit facility are used primarily to finance Protection One's growth through its expanding dealer program, acquisitions and the sale of new systems and enhanced services. Protection One provides security alarm monitoring services and sells, installs, and services security alarm systems for residential and commercial subscribers, substantially all of which are located in the five western states of Arizona, California, Nevada, Oregon and Washington. CONTACT: Protection One Inc. John W. Hesse, Executive V.P./CFO, 503/520-6010 or Montgomery W. Cornell, Treasurer, 503/520-6019 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion