Par Pacific announces amendment to ABL credit facility

Par Pacific Holdings announced that, on March 22, 2024, it entered into the previously announced amendment to its asset-based revolving credit facility. The ABL amendment will increase the size of the Company’s ABL from $900 million to $1.4 billion and is conditioned upon the termination of the Company’s existing intermediation agreement, which is expected to occur on or about May 31, 2024. The increase is based, in part, on the addition of certain collateral assets in Hawaii, including refined product inventory and accounts receivable. In addition, the Company announced that Moody’s Investors Service has upgraded its corporate family rating to Ba3 from B1.