General Maritime (NYSE:GMR) announced recently it has amended its senior secured credit facility and revolving credit facility; considered a positive development by FBR Capital.
FBR said, "General Maritime announced yesterday that it amended its $372 million senior secured credit facility and $750 million revolving credit facility. We view this as a positive development for General Maritime. The amendment raises the Net Debt/EBITDA requirement, eliminating a near-term overhang on GMR shares. The announcement also provides yet another example of General Maritime's strong relationship with its bank."
FBR Capital maintains an "Outperform" on General Maritime, which closed Thursday at $3.51, level with its Wednesday close.
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