Corinthian Colleges Receives Credit Facility Waiver
12 Mai 2014 - 11:30PM
Corinthian Colleges, Inc. (Nasdaq:COCO) reported today that it had
reached agreement with the lenders in its syndicated credit
facility to amend the facility and to waive an event of default.
The default had occurred as a result of the deferred tax asset
valuation allowance the Company recorded during the quarter ended
March 31, 2014.
A description of the amendment and waiver agreements and further
background is contained in the Report on Form 10-Q the Company
filed earlier today, and a copy of the First Amendment to the
Credit Agreement is filed as an exhibit to the Form 10-Q.
About Corinthian
Corinthian is one of the largest post-secondary education
companies in North America. Our mission is to change students'
lives. We offer diploma and degree programs that prepare students
for careers in demand or for advancement in their chosen fields.
Our program areas include health care, business, criminal justice,
transportation technology and maintenance, construction trades and
information technology. We have 107 Everest, Heald and WyoTech
campuses, and also offer degrees online. For more information, go
to http://www.cci.edu.
CONTACT: Investors:
Anna Marie Dunlap
SVP Investor Relations
714-424-2678
Media:
Kent Jenkins
VP Public Affairs Communications
202-682-9494
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