StoneMor Partners L.P. Announces Amendment to Revolving Credit Facility and Provides Update on Delay in Filing of 10-K
StoneMor Inc. (STON)
US:NYSE Investor Relations:
stonemor.com/investors/default.aspx
Company Research
Source: GlobeNewswire
TREVOSE, Pa., March 16, 2017 (GLOBE NEWSWIRE) -- StoneMor Partners L.P. (NYSE:STON) (“StoneMor” or the “Partnership”) today announced that it had entered into an amendment to its revolving credit agreement. The amendment provides for an extension of the deadline by which the Partnership is required to deliver to its lenders the Partnership’s audited financial statements for the year ended December 31, 2016 to July 15, 2017, with the unaudited financial statements for the quarter ending March 31, 2017 now being required to be delivered no later than forty-five (45) days after the date on which the Partnership delivers the 2016 Financial Statements. The Partnership agreed to provide unaudited monthly financial statements to its lenders until the audited 2016 financial statements are delivered. The amendment also provides for an increase in the Partnership’s maximum Consolidated Leverage Ratio from 4.00:1.00 to 4.25:1.00 through the period ending September 30, 2017, after which the
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