BOSTON--(BUSINESS WIRE)--Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that the Company has increased its revolving credit facility from $125 million to $175 million. The additional $50 million in commitments will provide working capital to support continued growth in the business and fund other general corporate purposes. During the fiscal year ended January 2, 2021, CRA’s maximum fiscal quarter-end loan borrowings on its revolving credit facility were $70 million, which were completely repaid by year end.
“Our credit facility is an important element in our capital allocation strategy that enables CRA to manage intra-year working capital needs, as evidenced by our history of ending each year with zero loan borrowings,” said Paul Maleh, CRA’s president and chief executive officer. “CRA has nearly doubled in size since 2013 when we last expanded our credit facility. This new increase will provide financial flexibility to support further growth of the business while facilitating the continued return of capital to shareholders. We appreciate the support and confidence of our bank group and look forward to continuing to work together in the future.”
About Charles River Associates (CRA)
Charles River Associates® is a leading global consulting firm specializing in economic, financial, and management consulting services. CRA advises clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guides corporations through critical business strategy and performance-related issues. Since 1965, clients have engaged CRA for its unique combination of functional expertise and industry knowledge, and for its objective solutions to complex problems. Headquartered in Boston, CRA has offices throughout the world. Detailed information about Charles River Associates, a registered trade name of CRA International, Inc., is available at www.crai.com. Follow us on LinkedIn, Twitter, and Facebook.
