Armstrong Flooring Expands Capital Resources and Liquidity

LANCASTER, Pa.--(BUSINESS WIRE)--Armstrong Flooring, Inc. (NYSE: AFI) (“Armstrong Flooring” or the “Company”), a leader in the design and manufacture of innovative flooring solutions, today announced that it has amended its senior secured asset-based revolving credit facility (“ABL Facility”), modifying the facility size to $90 million with a maturity date in December 2023 and an interest rate on borrowings based on LIBOR with a floor of 1.00% plus a spread of 2.75% to 4.00%. The amendment provides the Company with enhanced flexibility by adjusting the covenants to terms more appropriate in the current circumstances, among other changes, subject to the terms and conditions of the ABL Facility amendment.