This article was originally published in The Rose Sheet
Beauty firm consummates the previously announced amendment to its bank credit agreement Sept. 29, enabling the firm to add back up to $75 mil. of charges to the agreement's definition of EBITDA, Revlon says. The charges are related to the company's previously-announced "organizational streamlining" and discontinuance of the Vital Radiance brand (1"The Rose Sheet" Oct. 2, 2006, p. 3). The amendment will provide the firm with the "flexibility" it needs to reduce cost structure and improve margins, while investing in established brands, according to the company. Revlon announced that it was seeking the amendment to its bank credit agreement in early July (2"The Rose Sheet" July 17, 2006, p. 3)...
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