Revolving Credit Facility
Also called: revolver, RCF, line of credit
A revolver is a committed credit line a company can draw, repay and redraw, paying a commitment fee on the undrawn portion. It's the corporate equivalent of an overdraft and the primary liquidity backstop for working capital swings. Companies drawing their revolver in full is a recognised distress signal — it means they doubt the facility will still be there tomorrow.