Williams Scotsman amends loan, modifying financial covenants

By Sara Rosenberg

New York, Aug. 20 - Williams Scotsman inc. amended its credit facility, increasing the permitted maximum leverage ratio, decreasing the required utilization rate and decreasing the minimum interest coverage ratio.

Furthermore, the company completed its $150 million 10% senior secured notes due 2008 offering, which was use primarily to repay a portion of existing bank debt, according to a news release.

Williams Scotsman is a Baltimore company that builds and leases mobile offices and storage units.

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