Brown Shoe Announces Extension of Credit Agreement

Brown Shoe Company, Inc. BWS today announced that it has entered into an amended and restated credit agreement that extends its senior secured asset-based revolving credit facility to January 7, 2016, lowers the interest rate by 50 basis points, and provides for less restrictive covenants and more flexibility. The Company's borrowing capacity under the agreement remains at $380 million and still includes an accordion feature that allows the Company to request an increase in the size of the facility to $530 million in the aggregate.