CVG amended its $90.0 million asset-based Revolving credit facility with Bank of America, as agent, and certain financial institutions as lenders, extending its maturity date to March 1, 2026.

The amendment extends the existing agreement to remove the condition that the first $7.0 million of the $90.0 million Revolver Commitments are available as a first-in, last-out facility. The Company can increase the size of the revolving commitments under the ABL Facility by an incremental $50.0 million with the consent of the lenders.

"CVG continues to have a strong liquidity position, with its available cash on hand and $90.0 million of availability under the ABL Facility. This extension of our ABL Facility to 2026 will continue to provide financial flexibility with improved terms and lower costs," said Chris Bohnert, Chief Financial Officer of CVG.