Tecumseh Products, a manufacturer of compressors and related products, announced it has entered into an amendment of its credit facility with PNC Bank. Tecumseh said the amendment positively impacts its North American liquidity by reducing the borrowing base minimum availability threshold from $12.5 million to $5.0 million. In addition, the amendment enhances inventory and accounts receivable eligibility in determining the borrowing base.

“We are excited to announce our continued partnership with PNC. This amendment to increase our liquidity will enable us to support our new product launches in the medium term, as we continue with our strategic initiatives,” said Janice Stipp, EVP, CFO, treasurer and secretary. “We are very pleased with the extended maturity to our revolving credit agreement which secures this additional liquidity over the next five years, as well as our continued relationship with PNC.”

Ann Arbor, MI-based Tecumseh Products is a global manufacturer of hermetically sealed compressors for residential and specialty air conditioning, household refrigerators and freezers, and commercial refrigeration applications.