AMS secures increased credit facility
15 November 2002 | 2359 views | 0
American Management Systems, a provider of credit and CRM solutions to the financial services industry, has entered into a new three-year unsecured $160 million credit agreement to be used for general corporate purposes and acquisitions.
AMS chief financial officer John Brittain, says: "We have no outstanding debt today, and the new credit facility combined with our current cash balances provides AMS with approximately $240 million of available cash liquidity to fund future growth strategies."
The new credit agreement replaces AMS's former $120 million facility that was due to expire in January 2003.
AMS customers include 43 state and provincial governments, most federal agencies, and Fortune 500 companies.