Corus re-orgs credit arrangement

By Connie Thiessen Corus Entertainment says it’s continuing to take steps to better manage its liabilities, announcing Monday it has once again amended its credit agreement in the face of more than $1 billion in outstanding debt. The company says with its bank group, led by RBC Capital Markets and TD Securities, its maximum total debt to cash flow ratio has been increased to 4.75 through to mid-October, with ability for the company to request advances under the revolving facility to a certain limit. The agreement also includes requirements to use any excess cash to repay outstanding balances on the revolving facility and terms related to the use...