Mueller Water Amends $765.7M Credit Facility

ATLANTA (AP) — Mueller Water Products Inc., which makes flow control products, said Thursday it amended its $765.7 million credit facility with new financial covenant ratios, and other terms, effective immediately.

President and CEO Gregory Hyland said the amendment to the credit facility, which also includes a $200 million revolving credit line, was driven by the need for covenant ratio relief, not liquidity issues.

"This amendment allows us to remain focused on meeting our customers' needs during this economic recession while continuing to improve our market-leading positions in the water infrastructure and flow control industries," said Hyland.

Shares of Mueller Water fell 24 cents, or 5.7 percent, to $3.99 in afternoon trading.