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Farmer Brothers Amends Credit Agreement And Provides Business Update

From: finance.yahoo.com

Farmer Bros. Co. (NASDAQ: FARM) (the “Company”) today announced it has amended its credit facility with JPMorgan Chase Bank, N.A to increase the Company’s flexibility in supporting its current and future business operations as the COVID-19 situation continues to evolve. The Company also provided a business update for the fourth quarter of 2020.

Deverl Maserang, Farmer Brothers’ President and CEO said, “The amended credit facility marks another important step in our ongoing efforts to support the business both near- and long-term. With this added financial flexibility and our ongoing cost-cutting efforts, we believe Farmer Brothers is well-positioned to weather these challenging times. We appreciate the support of our lenders and believe the execution of this credit facility reflects their confidence in Farmer Brothers and our transformation strategy.”

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