By: E&P Staff
A.H. Belo said Friday its bankers have agreed to extend The Dallas Morning News parent’s revolving credit line for another year while cutting available credit in half to $25 million.
A.H. Belo said the bank syndicate has also released certain real estate that was securing the facility. The agreement extends the maturity date of the credit line to Sept. 30, 2012 from April of 2011.
“As of Dec. 3, A. H. Belo had no borrowings under its revolving credit facility,” Chairman, President and CEO Robert W. Decherd said in a statement. “The amended facility allows A. H. Belo to focus on managing its business and provides the financial flexibility we need going forward. A. H. Belo will continue to emphasize revenue initiatives, expense management and maximizing cash from operations.”