OTHER NEWS - April 13, 1995
<i> Times Staff and Wire Reports</i>
Morrison Knudsen Gets Credit Line: The $110-million temporary loan was received from some of the firm’s 28 bank lenders, which will save it from insolvency until it can sell off one of its non-core assets, the Boise, Ida.-based company said. The financing package, which includes a new credit line of $50 million and a carry-over of a $60-million line, comes less than a week after Morrison Knudsen Corp. named as its chairman former Chrysler Corp. Vice Chairman Robert Miller, who engineered the $1.5-billion government bailout of Chrysler in the early 1980s. The company has been negotiating with its lead bankers, BankAmerica and Mellon Bank, since February to secure up to $125 million in new loans to pay its bills.
