March 26, 2020 / 2:32 PM / 4 days ago

ViacomCBS-parent National Amusements amends credit deal with lenders

March 26 (Reuters) - National Amusements Inc, the parent of ViacomCBS, said on Thursday it has reached a deal with its lenders to amend borrowing terms and now has substantial cash reserves to fund operations.

The agreement followed a recent slump in the stock price of ViacomCBS that violated a minimum requirement for the credit line, the Wall Street Journal reported here

The holding company, owned by billionaire Sumner Redstone and his daughter, said it would not sell more stock of the media company. (Reporting by Ayanti Bera in Bengaluru; Editing by Saumyadeb Chakrabarty)

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