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0 0 0.133086876155268 0.133086876155268 0 0.0203327171903882 0.00462107208872465 -0.0314232902033272
Stock impact report

REV Group, Inc. Announces Financial and Business Updates Related to COVID-19

REV Group, Inc. (REVG) 
Last rev group, inc. earnings: 3/4 04:30 pm Check Earnings Report
US:NYSE Investor Relations: investors.revgroup.com
Company Research Source: Business Wire
MILWAUKEE--(BUSINESS WIRE)--REV Group, Inc. (NYSE: REVG), a manufacturer of industry-leading specialty vehicles, announced today that it has obtained financial covenant relief requested under an amendment to the Company’s existing $175 million Term Loan Agreement (“Agreement”) and provided an update on Recreation manufacturing operations.Effective April 30, 2020, the Company’s amended Agreement eliminates the requirement for quarterly compliance with the net leverage ratio covenant test and replaces it with an updated fixed charge coverage ratio test minimum of 1.25x through the end of fiscal 2020. At the end of the fiscal 2021 first quarter, the Agreement’s fixed charge coverage ratio will revert to a quarterly net leverage ratio test of less than 5.25x, which will be reduced by 0.25x each fiscal quarter thereafter until it reaches 4.25x by the end of the fiscal 2022 first quarter.“This amendment further solidifies our liquidity position to address the current economic environmen Show less Read more
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