Tuesday, ModivCare Amended Its Credit Agreement, Dated February 3, 2022 With JP Morgan Chase Bank, Along With Other Key Lenders, The Company Has Also Collected All Of ~$60M In Contract Receivables That Were Previously Reported As Delayed
Portfolio Pulse from Benzinga Newsdesk
ModivCare has amended its credit agreement with JP Morgan Chase Bank and other lenders. Additionally, the company has successfully collected approximately $60 million in previously delayed contract receivables.
October 02, 2024 | 9:04 am
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ModivCare has amended its credit agreement with JP Morgan Chase Bank and other lenders, and collected $60 million in delayed receivables, improving its financial position.
The amendment of the credit agreement likely provides ModivCare with more favorable terms or flexibility, which is beneficial for its financial health. Collecting $60 million in delayed receivables improves cash flow and reduces financial uncertainty, positively impacting the company's short-term financial outlook.
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