COLUMBUS, Ind.–(BUSINESS WIRE)–Cummins Inc. (NYSE: CMI) today entered into an agreement providing for an additional $2 billion revolving credit facility that terminates on April 30, 2021.
“The company ended the first quarter with cash, cash equivalents and marketable securities of $2 billion and committed borrowing capacity of $1.9 billion”
“The company ended the first quarter with cash, cash equivalents and marketable securities of $2 billion and committed borrowing capacity of $1.9 billion,” said Chief Financial Officer Mark Smith. “The agreement we entered into today boosts our already strong liquidity by $2 billion.”
The company’s long-term credit ratings remain unchanged at A+ from Standard & Poor’s and A2 from Moody’s with stable outlooks.
About Cummins Inc.
Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen generation and fuel cell products.
Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 61,600 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity.
Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $2.3 billion on sales of $23.6 billion in 2019.
See how Cummins is powering a world that’s always on by accessing news releases and more information at https://www.cummins.com/always-on.