CLEVELAND--(BUSINESS WIRE)--Ferro Corporation (NYSE: FOE, the “Company”) today announced the amendment of its existing senior credit facility. The amendment reflects a further benefit achieved through the Company’s strategy to divest its solar pastes assets. The previously announced sale of Ferro’s solar pastes assets increased operating cash flows and significantly reduced the size of the Company’s precious metal consignment program and other working capital needs. As a result, Ferro is reducing the Company’s revolving loan commitment from $350 million to $250 million. The amendment will lower annual commitment fees by approximately $500,000 and modify certain financial and leverage ratio covenants. Additional details can be found in the Form 8-K that the Company will file with the Securities and Exchange Commission.
