AMS secures increased credit facility

AMS secures increased credit facility

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.

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