From CARTT:Corus Entertainment announced last Friday it has completed an agreement to amend and restate its credit agreement dated Oct. 24, 2024, extending the maturity date to March 20, 2027.The credit facility has been amended to, among other things, increase the maximum amount Corus may request as an advance on a revolving basis to $75 million, remove certain requirements to use excess cash to repay the outstanding amounts on such advances, and fix the interest rate per annum equal to the two-year Canada interest rate determined on March 17, 2025, plus 4.75 per cent, explained a March 21 press release from Corus.“This is an important and significant step in progressing our capital and debt plan, accomplished with the cooperation of lenders and constructive support of key debt investors,” John Gossling, co-CEO and chief financial officer of Corus, said in a statement. “We are better positioned to create sustainability in our business, and we expect our efforts to right-size will be ongoing as we anticipate ongoing shifts and factors affecting our industry in the near term. That said, today’s announcement clearly reinforces our commitment and ability to provide Canadians with the shows, news and audio content they love and expect from Corus.”The media company previously reorganized its credit arrangement in September to pay down what was then more than $1 billion of debt. A month later, it bought itself more time to pay down its debt.The company has become leaner to balance its media output while keeping its finances in check. It helps it received temporary relief from the CRTC on some of its regulatory spending obligations on an exceptional basis due to its relatively poor financial health