ModivCare shares are trading higher. The company announced it amended its credit agreement with JP Morgan and other key lenders. Also, the company has collected about $60 million in contract receivables previously reported as delayed.
Portfolio Pulse from Benzinga Newsdesk
ModivCare shares are trading higher following the announcement of an amended credit agreement with JP Morgan and other lenders, and the collection of $60 million in previously delayed contract receivables.
October 02, 2024 | 1:53 pm
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POSITIVE IMPACT
ModivCare's stock is experiencing a positive impact due to the amendment of its credit agreement with JP Morgan and the collection of $60 million in delayed receivables.
The amendment of the credit agreement likely improves ModivCare's financial flexibility, while the collection of $60 million in receivables enhances its cash flow. Both factors contribute to a positive market sentiment, driving the stock price higher.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100