On January 29, 2014, AECOM Technology Corporation entered into and consummated a fourth amended and restated credit agreement with Bank of America, N.A., as administrative agent and a lender, and the other lenders party thereto (collectively, the lenders). The credit agreement, which replaces the company's prior revolving credit agreement set to expire in 2016, preserves the available borrowing capacity under the company's unsecured revolving credit facility at $1.05 billion, and expires on January 29, 2019. The company may, at its option, also increase the commitments under the credit agreement up to an additional $200 million subject to receipt of additional lending commitments for such loans and other customary conditions.

The loans under the credit agreement bear interest, at the company's option, at either the base rate plus an applicable margin or the Eurodollar rate plus an applicable margin. The applicable margin for base rate loans is a range of 0.125% to 1.25% based on the leverage ratio of the company at the end of each fiscal quarter and the applicable margin for Eurodollar rate loans is a range of 1.125% to 2.25% based on the leverage ratio of the company at the end of each fiscal quarter. Prior to the maturity date, the principal amounts outstanding under the credit agreement may be repaid and re-borrowed at the option of the company without premium or penalty, subject to certain conditions.

The principal amount outstanding under the credit agreement and any accrued and unpaid interest is due no later than the maturity date of January 29, 2019. Accrued interest with respect to such principal amounts is payable in arrears on a quarterly basis for Base Rate loans, and at the end of the applicable interest period but at most every three months for Eurodollar Rate loans. The credit agreement contains customary covenants that have the effect of limiting under certain circumstances the ability of the company and its subsidiaries to, among other things, merge with other entities, create new liens, incur additional indebtedness, sell assets outside of the ordinary course of business, pay dividends or make other payments with respect to the company's capital stock, enter into transactions with affiliates, or substantially change the general nature of the business of the company and its subsidiaries, taken as a whole.

The credit agreement also requires the company to maintain certain financial ratios.