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Building Materials Holding Corp. Gets Waiver from Lenders
August 13, 2008
San Francisco, CA-based Building Materials Holding Corp., a provider of building materials and construction services to professional residential builders and contractors, has obtained a temporary waiver of certain conditions to borrowing under its credit facility. The company previously announced that its second quarter financial results were out of compliance with certain financial covenants.
The waiver allows BMHC to borrow up to $60 million, through Sept. 30, while it works to finalize a permanent amendment to the credit facility to better reflect current market conditions. The company expects to reach an agreement with lenders without impacting business operations.
The company will release details of the second quarter financial results on August 14.