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Elizabeth Arden improved credit

This article was originally published in The Rose Sheet

Executive Summary

Fragrance and beauty manufacturer's credit facility increases from $175 mil. to $200 mil. under amended facility maturing 2006, Elizabeth Arden announces Dec. 30. More than $135 mil. currently is available under the credit facility, firm adds. Credit amendment, led by JP Morgan Chase Bank and Fleet Securities, was attributed to improved financial and operating performance. Amended facility will improve Arden's "financial flexibility and liquidity by increasing its borrowing capacity, lowering its cost of capital and removing potentially restrictive covenants," firm says...
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