Summary of PROVIDENCE & WORCESTER RAILROAD CO/RI/

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PWX > SEC Filings for PWX > Form 8-K on 29-Jun-2009

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Form 8-K for PROVIDENCE & WORCESTER RAILROAD CO/RI/

29-Jun-2009

Creation of a Direct Financial Obligation or an Obligation

ITEM 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

On June 25, 2009, Providence and Worcester Railroad Company consummated with Commerce Bank & Trust Company a $5 Million unsecured line of credit facility (the "Loan Facility") pursuant to a Promissory Note and a Business Loan Agreement. The Loan Facility matures on June 25, 2011. No amounts are outstanding under the Loan Facility as of this date. The Loan Facility replaces another credit facility in the same amount which matured on May 31, 2009.

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