American Vanguard Extends Credit Agreement Maturity to 2026, Aiming for Clarity on Earnings Power

American Vanguard Corporation has amended its senior credit facility with a group of commercial lenders led by BMO, extending the maturity of the credit agreement to December 31, 2026. This will allow the management team to provide a clearer picture of the Company's earnings power to the investment community. The extension is a vote of confidence in the ongoing transformation and improvement at American Vanguard.

American Vanguard Corporation (NYSE:AVD) has successfully amended its senior credit facility with a group of commercial lenders led by BMO, extending the maturity of the credit agreement to December 31, 2026 [1]. This extension provides the management team with an opportunity to provide a clearer picture of the Company's earnings power to the investment community [2].

Douglas Kaye III, Chief Executive Officer of American Vanguard, expressed gratitude for the extension, stating, "We would like to thank our lending group for extending the maturity of our credit agreement at this important juncture for the company. For over 35 years, our lending group, led by BMO, has shown support for our business. We appreciate their vote of confidence in the ongoing transformation and improvement at American Vanguard" [1].

The extension comes at a crucial time for the company, following promising second quarter results. American Vanguard is a diversified specialty and agriculture products company that develops and markets products for crop protection and management, turf and ornamentals management, and public and animal health. Over the past 20 years, through product and business acquisitions, the Company has significantly expanded its operations and now has more than 1,000 product registrations worldwide [1].

The extension will afford the management team the opportunity to demonstrate the company's earnings potential as it continues its transformation and improvement initiatives. The Company, from time to time, may discuss forward-looking information, which can be identified by the fact that they do not relate strictly to historical or current facts [1].

References:
[1] https://www.stocktitan.net/news/AVD/american-vanguard-corporation-announces-extension-to-existing-credit-num7etci4xze.html
[2] https://www.morningstar.com/news/accesswire/1062658msn/american-vanguard-corporation-announces-extension-to-existing-credit-agreement