Home Urban/M - Urban/AC WHAT? Clear Channel Almost Empties Credit Line, Borrows $1.6 Billion

WHAT? Clear Channel Almost Empties Credit Line, Borrows $1.6 Billion

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Clear Channel borrowed the approximately $1.6 billion left from a previous $2 billion line of revolving credit this week and revealed the latest borrowing in a Monday morning filing with the U.S. Securities and Exchange Commission. The corporation borrowed the money to “improve its cash flow with continuing uncertainty in credit markets and economic conditions,” the filing stated.

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