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Virtusa amends credit agreement

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Virtusa amends credit agreement

Virtusa Corp. entered into an amendment to its credit agreement with JPMorgan Chase Bank NA to increase the revolving commitments to $275 million from $200 million, reduce the interest rate margins to the term loans and revolving loans outstanding, and reduce the commitment fee.

Virtusa executed the amendment to provide additional lending capacity, which it will use to fund the completion of the delisting transaction of unit Polaris Consulting & Services Ltd., and to provide excess lending capacity for future strategic investment opportunities.