ArcBest Corporation has amended and restated its existing revolving credit facility through a Fifth Amended and Restated Credit Agreement with U.S. Bank National Association and other financial institutions. The updated agreement increases the letter of credit sub-facility sublimit from $20 million to $50 million and extends the maturity date of commitments for consenting lenders to five years from the effective date of the amendment. The agreement also updates certain other terms and maintains customary covenants, including minimum interest coverage and maximum leverage ratios, as well as limitations on incurrence of debt, asset sales, and related party transactions.
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