Universal Stainless & Alloy Products Inc. announced that it has entered into a new five-year $95 million credit agreement. As with the company's previous credit agreement, the company's obligations under the new asset-based lending (ABL) credit agreement are collateralized by substantially all of the company's accounts receivables, inventory, and fixed assets. It also has a $25 million increase option.

The new credit agreement replaces the Company's previous credit agreement, which was scheduled to expire in March 2017.