Wednesday, March 30, 2011

CPI Aerostructures and Sovereign Bank Amend Credit Agreement

EDGEWOOD, N.Y.--(BUSINESS WIRE)--CPI Aerostructures, Inc. (“CPI Aero”) (NYSE Amex: CVU) announced today that it entered into a fourth amendment to its credit agreement with Sovereign Bank, dated as of August 13, 2007, as amended. This amendment modifies the credit agreement’s definition of Debt Service Coverage Ratio so that the change in estimate adjustments described in CPI Aero’s January 20, 2011 press release will not result in a financial covenant violation during the fiscal year ended Dece...

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