SUGAR LAND, Texas, March 09, 2018 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE:TISI)  announced the successful completion of a seventh amendment to its secured credit facility  led by Bank of America, N.A. The amendment modifies the current agreement to: eliminate the Total Leverage Ratio covenant, raise the maximum Senior Secured Leverage Ratio covenant and reduce the minimum Interest Coverage Ratio covenant, among other changes, for the remaining term of the Credit Facility (July 2020).

Amerino Gatti, Team’s Chief Executive Officer, commented, “We are pleased with the continued support of our bank group and this amendment provides us with the financial flexibility necessary to focus our efforts on improving business operations through the strategic initiatives we are implementing. Our objective is to create an agile, efficient and cost-effective organization that leverages our size, scale and extensive service offerings.”

About Team, Inc.

Headquartered near Houston, Texas, Team, Inc. is a leading provider of specialty industrial services, including inspection and assessment, required in maintaining and installing high-temperature and high-pressure piping systems and vessels that are utilized extensively in the refining, petrochemical, power, pipeline and other heavy industries. Team offers these services across its 220 branch locations and more than 20 countries throughout the world. For more information, please visit www.teaminc.com.