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Arctic Cat completes $60M credit facility [AP Financial News]
(12 Nov 2009 14:01:00 EST)
MINNEAPOLIS_Snowmobile and all-terrain vehicle maker Arctic Cat Inc. said Thursday it finalized a three-year, $60 million senior secured revolving credit facility. Proceeds will be used toward the company's ongoing working capital needs and general corporate purposes. Bank of America structured and underwrote the facility, which replaces the existing credit facility that expires in March 2010.
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Fire and fuel leak hazards prompt recall of Arctic Cat snowmobiles: Arctic Cat is recalling about 3,000 snowmobiles because the engines may leak oil and catch fire. [Grand Forks Herald, N.D.]
(29 Oct 2009 15:12:00 EDT)
Oct. 29--About 3,000 Arctic Cat snowmobiles have been recalled because the engines on the vehicles may leak oil and fuel and catch fire, posing a risk of burn injuries, the Consumer Product Safety Commission said Wednesday. Arctic Cat Inc., based in Thief River Falls, said it has received 33 reports of oil leaks, including eight incidents in which the engines on snowmobiles caught fire.
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Arctic Cat 2Q profit falls on lower sales [AP Financial News]
(29 Oct 2009 11:31:00 EDT)
MINNEAPOLIS_Arctic Cat Inc. said Thursday its fiscal second-quarter profit fell 13 percent as demand for its snowmobiles and all-terrain vehicles were hurt by tough economic conditions. The results beat Wall Street predictions, however, and Arctic Cat shares jumped 75 cents, or 13 percent, to $6.51 in midday trading.
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Consumer Product Safety Commission Documents [Consumer Product Safety Commission Documents]
(28 Oct 2009 00:01:00 EDT)
The following product safety recall was voluntarily conducted by the firm in cooperation with the CPSC. Name of Product: Arctic Cat Snowmobiles. Units: About 3,000. Manufacturer: Arctic Cat Inc., of Thief River Falls, Minn. Hazard: Oil can leak into the engine compartment, posing a fire hazard to consumers.
