| California Water Services gets up to $75M credit
California Water Services Group entered into an unsecured agreement for an up to $75 million revolving line of credit, the company said late Thursday. San Jose-based California Water (NYSE:CWT) and its subsidiaries reached an agreement with Bank of America for a $55 million line of credit. .
California Water Service gets up to $75 million credit
California Water Service Group entered into an unsecured agreement for an up to $75 million revolving line of credit, the company said late Thursday. San Jose-based California Water Service (NYSE: CWT) and its subsidiaries reached an agreement with Bank of America for a $55 million line of credit. .
GM secures $4.1B credit line
General Motors Corp. has put up a 49 percent stake in its former financial arm as collateral for a $4.1 billion revolving line of credit, the company said Wednesday. It also announced plans to replace $1.1 billion in convertible securities with new unsecured convertible notes that mature June 1, 2009. The new notes have a later maturity date than the old ones, giving the company more liquidity, said spokeswoman Melisa Tezanos. Both moves are part of the normal course of business under GM's restructuring plan, she said. But David Healy, an analyst with Burnham Securities who owns some GM shares, said the credit line is likely a hedge against what could be a declining U.S. automotive market and a possible strike later this year, when the three major U.S.
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