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KROGER TO SEEK MODIFICATIONS OF CREDIT AGREEMENT

 KROGER TO SEEK MODIFICATIONS OF CREDIT AGREEMENT
 CINCINNATI, Nov. 22 /PRNewswire/ -- The Kroger Co. (NYSE: KR) said


today it has reached an agreement with its bank co-agents to seek the consent of its bank lenders to modify the structure of its credit agreement in order to facilitate the company's long-range refinancing plans.
 Kroger said it was requesting two major changes in its current debt structure:
 -- An extension of the credit agreement for an additional 24
 months, from the current ending date of January 1996, to
 January 1998;
 -- The authorization of a new, uncommitted borrowing facility that
 could be used for a portion of the anticipated refinancing of
 Kroger's subordinated debt in 1993 and 1994.
 Kroger reached the agreement outlining the proposed changes with the three co-agent banks for the credit agreement, Citibank, N.A.; Chemical Bank; and the First National Bank of Chicago. The co-agents have established Dec. 6, 1991, as the deadline for approval of the changes by the other lending banks which are part of Kroger's credit agreement.
 -0- 11/22/91
 /CONTACT: Paul Bernish (media), 513-762-1304; or Pam Taylor (investor), 513-762-4969; both of The Kroger Company/
 (KR) CO: The Kroger Company ST: Ohio IN: REA SU:


KK -- CL009 -- 6421 11/22/91 13:34 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 22, 1991
Words:208
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