Cummins Increases Revolving Credit Capacity by $2 Billion
COLUMBUS: Cummins Inc. has entered into an agreement providing for an additional $2 billion revolving credit facility that terminates on April 30, 2021. “The company ended the first quarter with cash, cash equivalents and marketable securities of $2 billion and committed borrowing capacity of $1.9 billion,” said Chief Financial Officer Mark Smith. “The agreement we entered into today boosts our already strong liquidity by $2 billion.” The company’s long-term credit ratings remain unchanged at A+ from Standard & Poor’s and A2 from Moody’s with stable outlooks. Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen generation and fuel cell products.