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home / news releases / WWW - Wolverine Worldwide temporarily amends credit agreement to enhance liquidity and financial flexibility

WWW - Wolverine Worldwide temporarily amends credit agreement to enhance liquidity and financial flexibility

Wolverine World Wide Inc.

2023-07-07 07:35:57 ET

  • Wolverine World Wide ( NYSE: WWW ) temporarily amends its existing credit agreement dated July 31, 2012 to adjust maximum consolidated leverage ratio from 4.5x EBITDA to 4.875x EBITDA till the end of fiscal 2023.
  • Financial covenant thresholds will revert to pre-existing levels under the agreement in the first quarter of fiscal 2024.
  • Management said that the company will continue to expect benefits in 2H amid lower transitory supply chain costs, further savings from profit improvement initiatives, and ongoing reduction of inventories.
  • Source: Press Release

For further details see:

Wolverine Worldwide temporarily amends credit agreement to enhance liquidity and financial flexibility
Stock Information
Company Name: Wolverine World Wide Inc.
Stock Symbol: WWW
Market: NYSE
Website: wolverineworldwide.com
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