Universal Stainless $95 M credit agreement

Universal Stainless & Alloy Products, Inc. (Universal Stainless) recently announced that it has entered into a new five-year USD $95 million asset-based lending (ABL) credit agreement. Universal Stainless, headquartered in Bridgeville, Pennsylvania, manufactures and markets semi-finished and finished specialty steels, including stainless steel, nickel alloys, tool steel and certain other alloyed steels. As with the Company’s previous credit agreement, the Company’s obligations under the new ABL credit agreement are collateralized by substantially all of the Company’s accounts receivables, inventory and fixed assets. It also has a USD $25 million increase option. The new credit agreement replaces the Company’s previous credit agreement, which was scheduled to expire in March 2017.

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