AutoCanada Inc. announced that its lenders under the Company's syndicated credit facility have agreed to increase to the Company's maximum permitted Total Net Funded Debt to EBITDA ratio from 4.00:1.00 to 4.50:1.00 for the period from June 28, 2024 to September 29, 2024. After September 29, 2024, the Company's maximum permitted Total Net Funded Debt to EBITDA Ratio will revert to 4.00:1.00. This is a precautionary measure taken by the Company and the lenders given the ongoing CDK outage and the unknown impact it may have on the financial results of the Company.
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