Curtiss-Wright Corporation has entered into a new credit agreement with nine banks, increasing its revolving credit facility to $1 billion and expanding the accordion feature to $500 million.
The new five-year credit facility matures in May 2031. The company terminated its prior credit agreement, which was set to expire in May 2027. Curtiss-Wright maintains a moderate debt level with a debt-to-equity ratio of 0.44 and a current ratio of 1.52, indicating solid liquidity.
The credit line will be used for general corporate purposes, including potential acquisitions and internal growth initiatives. The new agreement contains similar financial covenants to the previous one.
"We are pleased to announce the successful execution of our new and expanded revolving credit facility, facilitating greater financial flexibility to deliver on our disciplined capital allocation strategy," said Lynn M. Bamford, Chair and CEO of Curtiss-Wright. The company's stock has gained 68% over the past year, trading at $715.80 with a market cap of $26.53 billion.
Curtiss-Wright is a global provider of engineered products and services to aerospace, defense, nuclear power, and industrial markets. It employs approximately 9,100 workers.
In other recent news, Curtiss-Wright reported strong Q1 2026 earnings, beating EPS estimates of $3.28 with actual $3.48. Revenue of $914 million exceeded forecasts. However, shares dipped slightly in after-hours trading.
