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Forest Oil’s Borrowing Base Reduced

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April 2, 2014

Lenders reduced Forest Oil Corp.’s (NYSE: FST) revolving credit facility borrowing base to $300 million as part of the semi-annual redetermination, the company said March 31.

There are no outstanding borrowings under the credit facility currently, the company noted.

The reduction came alongside the lenders' agreement to amend the facility, Forest Oil said, noting that the permitted maximum total debt-to-EBITDA ratio will be increased, Forest Oil said.

The ratio will be increased for the calendar quarters ending March 31, June 30, Sept. 30 and Dec. 31 this year, the company ...

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