View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
May 4, 2020

Cummins increases revolver capacity by US$2bn

Cummins has entered into an agreement providing for an additional US$2bn revolving credit facility, which terminates on 30 April, 2021.

By Rhodri Morgan

Cummins has entered into an agreement providing for an additional US$2bn revolving credit facility, which terminates on 30 April, 2021.

"The company ended the first quarter with cash, cash equivalents and marketable securities of US$2bn and committed borrowing capacity of US$1.9bn," said Chief Financial Officer, Mark Smith.

"The agreement we entered into today boosts our already strong liquidity by US$2bn."

The company's long-term credit ratings remain unchanged at A+ from Standard & Poor's and A2 from Moody's, with stable outlooks.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto