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COVID-19 pandemic: Tenneco amends covenant ratios of senior credit facility, increasing leverage ratio

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Corporate developments

Revised covenant amendments are expected to help the company manage through anticipated temporary fall in revenue and earnings related to the COVID-19 pandemic

Tenneco has agreed to amend the financial covenant ratios of its senior secured credit facility, significantly increasing the maximum leverage ratio while decreasing the minimum interest coverage ratio requirements in the company’s senior credit facility, according to a company press release on 6 May.

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