The company noted the raised earnings guidance reflected increased sales expectations and shares repurchased through June 30, interestonborrowings, and a lower full year tax rate.
For what has been happening is that the ECB has been buying bonds in the open markets as a way of reducing the interest rate that Greece must pay on market borrowings.
First, if Chesapeake does get a credit rating upgrade over the next two years as a result of this plan, it could possibly see a small decrease in the interest rates it needs to pay on future borrowings.
At the mercy of the banks, DeWelt agreed to a two-point increase in the interest rate, to 7.75% on its revolving line of credit borrowings and 6.93% on its term loan.