May 8, 2020 / 8:46 PM / 17 days ago

Chipotle secures $600 million credit line amid coronavirus crisis

FILE PHOTO: The logo of Chipotle Mexican Grill is seen at the Chipotle Next Kitchen in Manhattan, New York, U.S., June 28, 2018. REUTERS/Shannon Stapleton

(Reuters) - Chipotle Mexican Grill Inc (CMG.N) has secured a new year-long $600 million revolving credit line, a regulatory filing showed on Friday, as the restaurant chain looks to deal with the fallout from the COVID-19 pandemic.

Companies across the globe have been shoring up their cash positions, at a time when many sectors, including hospitality and retail, have borne the brunt of the respiratory disease.

Chipotle had $909 million in cash and short-term investments, and no debt as of March 31.

Reporting by Praveen Paramasivam in Bengaluru; Editing by Shailesh Kuber

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