Business Context and Reporting Period
Company: Red Robin Gourmet Burgers, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: December 21, 2015
Event: Entry into a Material Definitive Agreement regarding the Company's credit facilities.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or liquidity ratios. The primary financial metric disclosed is the adjustment to the Company's revolving line of credit:
- Revolving Credit Facility Increase: The available amount was increased from $250 million to $325 million.
- Net Increase in Capacity: $75 million.
Material Changes Versus Prior Period
The material change reported is the execution of the First Amendment to the Credit Agreement dated July 2, 2014. The amendment specifically increased the borrowing capacity under the revolving line of credit. The filing states that no other material changes to the Credit Agreement were made pursuant to this Amendment.
Guidance, Outlook, and Risks
Management Commentary: The filing contains no forward-looking guidance, outlook, or management commentary regarding future operations or financial performance.
Risks and Contingencies: No specific risks or contingencies are detailed in this report beyond the standard reference to the full text of the Amendment for complete terms.
Unusual Items: None reported.
Investor Verification Checklist
- Verify the full terms of the First Amendment to the Credit Agreement (Exhibit 10.1) for interest rate adjustments, covenants, or fees associated with the increased $325 million facility.
- Confirm the identity of the lender parties and administrative agents (Wells Fargo Bank, N.A., Bank of America, N.A., etc.) to assess counterparty risk.
- Review subsequent filings to determine if the Company has drawn upon the additional $75 million in credit capacity.