Sterling Infrastructure, Inc. announced that it has amended its 2019 credit agreement, extending the maturity of its credit facility to June 2028. The amendment also expands the size of the facility and enhances its flexibility, providing Sterling with greater financial resources for its operations and growth strategies.
The amended credit facility now comprises a $300 million term loan and a $150 million revolving credit facility. As of June 5, 2025, the term loan had $300 million in outstanding borrowings, while the revolving credit facility remained undrawn. The company also reported a strong cash and cash equivalents balance of $785 million.
CEO Joe Cutillo highlighted the strong relationships with key lenders and their confidence in Sterling's outlook. He stated that the extended and expanded credit facility positions the company well for both organic growth and future merger and acquisition opportunities, underscoring its commitment to business expansion.
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