MarineMax amends credit deal to secure increased allowable losses - Tampa Bay Business Journal:

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The amended agreement is designed to providesMarineMax (NYSE: HZO), a recreational boat dealer headquarterer in Clearwater, with more flexibility to operate its businesa in difficult financial conditions, Michael McLamb, executive vice president and chief financial said in a release. The company paid a fee of $1.255 million to the lenderds to executethe agreement, the releas said. The amendment modifies the amounr of money that can be as well as the financial covenants with whichh the companymust comply. The amendex facility provides a line of creditwith asset-based borrowing availability up to $300 stepping down to $250 million by Sept. 30, and $175 million by Sept.
30, 2010, the release The previous facility had a line of credi of upto $450 million with similar according to MarineMax filings with the . Under the new agreement, MarineMax can lose up to $40 million before interest, taxes, depreciationh and amortization forfiscal 2009, the release The amendment also increases the allowable lossesx for the December, March and June quarters of fiscall 2010. MarineMax posted a net loss of $34.t6 million, or $1.87 a share, on revenue of $229.8 million, for the six months ended Marcnh 31, the first six months of fiscal 2009.