Among other things, the amendment:
-- Creates an asset-based revolving credit facility secured by all personal property assets of the Company and its active subsidiaries and certain specified real property -- Establishes minimum quarterly adjusted EBITDA covenant requirements in 2009 and a fixed charge coverage ratio covenant in 2010 of 1.0 to 1.0 -- Allows capital expenditures and investments of up to $16.0 million per year (in total) -- Allows A. H. Belo to pay dividends when the Company's fixed charge coverage ratio exceeds 1.2 to 1.0 and the aggregate availability under the credit facility exceeds $15.0 million -- Sets pricing at LIBOR plus a spread of 375 basis points -- Contains other covenants including limitations on indebtedness, liens, and asset sales
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About A. H. Belo Corporation
A. H. Belo Corporation (NYSE: AHC) headquartered in
Statements in this communication concerning A. H. Belo Corporation's (the "Company's") business outlook or future economic performance, anticipated profitability, revenues, expenses, dividends, capital expenditures, investments, future financings, and other financial and non-financial items that are not historical facts, are "forward-looking statements" as the term is defined under applicable federal securities laws. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those statements.
Such risks, uncertainties and factors include, but are not limited to, changes in capital market conditions and prospects, and other factors such as changes in advertising demand, interest rates, and newsprint prices; newspaper circulation trends and other circulation matters, including changes in readership patterns and demography, and audits and related actions by the Audit Bureau of Circulations; challenges in achieving expense reduction goals, and on schedule, and the resulting potential effects on operations; technological changes; development of Internet commerce; industry cycles; changes in pricing or other actions by competitors and suppliers; regulatory, tax and legal changes; adoption of new accounting standards or changes in existing accounting standards by the Financial Accounting Standards Board or other accounting standard-setting bodies or authorities; the effects of Company acquisitions, dispositions, co-owned ventures, and investments; general economic conditions; significant armed conflict; and other factors beyond our control, as well as other risks described in the Company's Annual Report on Form 10-K for the year ended
SOURCE A. H. Belo Corporation