An announcement from Air T (AIRT) is now available.
Air T, Inc. and its twelve subsidiaries have secured a new credit agreement with Alerus Financial, providing them with a $14 million revolving credit facility and two term loans totaling nearly $13 million, all maturing in 2029 with interest rates tied to SOFR plus a margin. The credit is backed by substantial collateral, including real estate, and includes financial covenants to maintain certain debt service and leverage ratios. This strategic financial move, which also involved settling previous debts without penalties, strengthens the company’s capital structure and supports its ongoing operations.
For a thorough assessment of AIRT stock, go to TipRanks’ Stock Analysis page.
