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.

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"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.

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