Armstrong Lowers Interest Expense

Lancaster, PA, March 11, 2011 -- Armstrong World Industries said it has amended its existing senior secured credit facility of November 23, 2010 in order to lower future interest expense.

The amendment reduces the borrowing spread over LIBOR from 3.5% to 3.0%, reduces the the LIBOR floor from 1.5% to 1.0%, and extends the maturity of the loan to March 10, 2018.

The company said it expects to save $2.75 to $5.5 million in interest expense annually.