Chipotle secures $600 million credit line amid coronavirus crisis

(Reuters) – Chipotle Mexican Grill Inc has secured a new year-long $600 million revolving credit line, a regulatory filing showed https://bit.ly/2SOtm6L 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)