Blue Chicken Broadcasts Credit score Facility Modification Credit score Facility Modification Gives Covenant Reduction By way of Second Quarter Fiscal 2023 – Kind 8-Okay

Blue Chicken Company broadcasts modification to its credit score facility

Modification supplies for reduction from restrictive covenants till the second quarter of fiscal 2023

FORT VALLEY, Ga. (November 29, 2021) – As we speak, Blue Chicken Company (NASDAQ: BLBD), a number one producer of faculty buses and actions, introduced that it has entered right into a fourth rider to its credit score facility , as of December 12, 2016.

The Fourth Modification supplies for reduction from restrictive covenants till Blue Chicken’s second fiscal quarter 2023. For the fiscal interval 2022, the online leverage ratio is changed by a quarterly minimal 12-month EBITDA restrictive covenant, a month-to-month liquidity take a look at and a three-month rolling unit. trial offered. For the 2 quarters of Blue Chicken’s fiscal 12 months 2023, the whole internet monetary leverage ratio fell from 3.50: 1:00 am to 4:00 am: 1:00 am.

The opposite phrases of the amended credit score facility embody a brand new pricing construction, which relies on the ratio of the Firm’s consolidated internet debt to the EBITDA ratio, further allowances for the Firm to boost junior capital and availability. further $ 10 million revolver.

“We’re delighted to have the continued help of our lending companions,” stated Matthew Stevenson, CEO. “This modification not solely provides Blue Chicken the monetary flexibility to proceed to function our enterprise throughout the Covid-19 pandemic and related world provide chain disruptions, but in addition provides us the flexibility to put money into future alternatives.” development ”.

Further particulars on the phrases of the modification can be found in 8-Okay filed with the Securities and Trade Fee on November 29, 2021.

About Blue Chicken Company: Blue Chicken (NASDAQ: BLBD) is the main impartial designer and producer of faculty buses, with greater than 550,000 buses offered since its inception in 1927 and roughly 180,000 buses in service right now. Blue Chicken’s longevity and status within the college bus trade have made it an iconic American model. Blue Chicken units itself other than its main rivals by its explicit curiosity within the design, engineering, manufacture and sale of faculty buses and associated elements. As the one producer of chassis and our bodies particularly designed for college bus purposes, Blue Chicken is acknowledged as an trade chief in innovation, security, product high quality / reliability / sturdiness, working and dealing with prices. Blue Chicken has a wealthy historical past of introducing new applied sciences to the varsity bus area and is the clear chief in alternative-powered college buses, with greater than 20,000 low-emission, zero-emission buses on the highway. Blue Chicken manufactures college buses at two amenities in Fort Valley, Georgia. Its Micro Chicken three way partnership operates a producing facility in Drummondville, Quebec, Canada. Service and substitute elements are distributed from Blue Chicken’s elements distribution heart positioned in Delaware, Ohio. For extra info on the complete vary of Blue Chicken buses, go to www.blue-bird.com.

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Blue fowl • blue-bird.com

Ahead-looking statements

This press launch incorporates forward-looking statements inside the which means of the secure harbor provisions of the Non-public Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations relating to future monetary efficiency, enterprise methods or expectations for our enterprise. Particularly, forward-looking statements embody statements on this press launch relating to route, seasonality, product line and gross earnings and will embody statements referring to:

• Inherent limitations of inside controls affecting the monetary statements

• Development alternatives

• Future profitability

• Capacity to broaden market share

• Buyer demand for sure merchandise

• Financial circumstances (together with tariffs) that might have an effect on gas prices, commodity prices, trade dimension and the monetary circumstances of our sellers and suppliers

• Labor or different constraints on the corporate’s means to take care of a aggressive value construction

• Volatility of the tax base and different sources of funding that help the acquisition of buses by our finish clients

• Acceptance under or above market expectations for our merchandise

• Different statements preceded, adopted or containing the phrases “estimate”, “plan”, “undertaking”, “foresee”, “intend to”, “anticipate”, “anticipate”, “consider”, ” seek for “” goal “or related expressions

These forward-looking statements are based mostly on info out there on the date of this press launch and on present expectations, forecasts and assumptions, and contain plenty of judgments, dangers and uncertainties. Due to this fact, forward-looking statements shouldn’t be taken to symbolize our views at a later date, and we don’t undertake to replace any forward-looking statements to replicate occasions or circumstances after the date on which they have been made. whether or not because of new info, future occasions or in any other case, besides as could also be required by relevant securities legal guidelines. The components described above, along with the chance components described in our experiences to the SEC (out there at www.sec.gov), may trigger our precise outcomes to vary materially from estimates or expectations. mirrored in these forward-looking statements.

For extra info:

Marc Benfield | Blue fowl society

478-822-2315 | [email protected]

Disclaimer

Blue fowl society printed this content material on November 29, 2021 and is solely liable for the knowledge it incorporates. Distributed by Public, unedited and unmodified, on November 29, 2021 22:00:08 PM UTC.

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