Columbus, Ind.-based Cummins Inc., a manufacturer of power systems and engines used in a variety of industries, 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,” chief financial officer Mark Smith said Friday. “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.