dc.internet.com/news/article.php/531411
By dc.internet.com Staff December 11, 2000 Halifax Corp. has secured an $8 million revolving credit facility with a maturity date of Aug. 31, 2002, from the Bank of America N.A. The loan, which will be used for working capital purposes, replaces the company's former banking relationship and credit facility. "This signifies a major step for Halifax, as we clearly have put the embezzlement activities behind us, dramatically reduced our debt over the past year, and achieved positive shareholders' equity for the first time since 1996," said Charles McNew, president and chief executive officer of Halifax. Founded in 1967, the Alexandria, Va.-based Halifax provides a wide range of information technology services to commercial and government customers throughout the United States. < "The fact that we've entered into a new banking relationship, particularly with a bank of this caliber, demonstrates a meaningful step in our evolution. We have negotiated a creative package that will facilitate our immediate needs and support our future growth plans as we continue to execute our IT services and solutions strategy," said McNew. |
Legal Notices, Licensing, Reprints, Permissions, Privacy Policy.
Advertise | Newsletters | Shopping | E-mail Offers | Freelance Jobs 