PENN TRAFFIC CREDIT TERMS ARE EASED UNTIL APRIL 1999

SYRACUSE, N.Y. -- Penn Traffic Co. here said last week it has been given a reprieve until April 1, 1999, to comply with financial covenants in its revolving credit facility. ial results last week for the quarter and the first half, which showed declining sales and operating cash flow.Penn Traffic said its senior bank lenders amended the terms of its $250 million revolving credit facility so the company

SYRACUSE, N.Y. -- Penn Traffic Co. here said last week it has been given a reprieve until April 1, 1999, to comply with financial covenants in its revolving credit facility.

ial results last week for the quarter and the first half, which showed declining sales and operating cash flow.

Penn Traffic said its senior bank lenders amended the terms of its $250 million revolving credit facility so the company will not be required to comply with certain covenants for eight months.

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