Westmoreland Coal has successfully modified certain terms of its revolving credit line as part of its regular business update with its banking partners.

The amendment leaves the $50 million base borrowing commitment unchanged and reduces the seasonal borrowing availability to $10 million from $25 million.

According to related 8-K filing, The PrivateBank and Bank of the West provided the change in the seasonal loan increase amount to $5 million from $20 million and permitted the Canadian borrowers to borrow up to an additional $5 million during the seasonal borrowing period, for a total of $25 million in the Canadian borrowers’ availability during that period.

Jason Veenstra, Westmoreland’s chief financial officer commented, “The changes we made better accommodate the seasonal trends in our business. We now have more flexibility during the several months of the year when our cash flow generation is typically at its lowest and for our July interest payment. We also updated the borrowing availability to match better our cash requirements at the parent level following the Kemmerer drop to the MLP last year.”