CALGARY, Dec. 23, 2016 /CNW/ - Stuart Olson Inc. (TSX: SOX, SOX.DB.A) ("Stuart Olson" or the "Company") today announced that it has negotiated a minor amendment to its revolving credit facility by changing the required interest coverage ratio covenant. The amendment was unanimously approved by the lenders and provides that effective immediately, the Company's required interest coverage ratio shall be 2.25:1 until June 30, 2017, increasing to 2.50:1 until March 31, 2018, and thereafter increasing to 3.00:1.
About Stuart Olson Inc.
Stuart Olson Inc. provides general contracting and electrical building systems contracting in the public and private construction markets as well as electrical, mechanical and speciality trades, such as insulation, cladding and asbestos abatement in the industrial construction and services market. The Company operates office locations throughout British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. Stuart Olson's common shares and convertible debentures are listed on the Toronto Stock Exchange under the symbols "SOX" and "SOX.DB.A", respectively. www.stuartolson.com
SOURCE Stuart Olson Inc.
For further information: Daryl Sands, Executive Vice President and Chief Financial Officer, Stuart Olson Inc., (403) 685-7777, Email: [email protected]