Southfield, Mich.-based alternative-risk carrier announced that it has successfully executed a replacement credit facility for up to $25 million.
This revolving line of credit will expire on Nov. 11, 2007, and replaces the company’s previous line of credit and term loan, according to a statement. The company has drawn approximately $9 million on this revolving line of credit to pay off the term loan on the previous credit agreement.
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