Business Context and Reporting Period
Company: Black Hills Corporation
Filing Type: Form 8-K (Current Report)
Date of Event: August 21, 2003
Context: The filing reports the completion of a new credit facility and the replacement of an existing one.
Key Financial Metrics
The filing focuses on liquidity and debt capacity rather than operational performance metrics.
- New Credit Facility: $215 million three-year revolving credit facility.
- New Facility Expiration: August 20, 2006.
- Replaced Facility: $195 million credit facility.
- Supplemental Facility: $200 million credit facility (expires August 20, 2004).
- Revenue, Profit, Cash Flow, Margins: The filing text does not provide a clear value for these metrics.
Material Changes
The primary material change is the restructuring of the company's revolving credit facilities:
- Increased the size of the primary revolving credit facility from $195 million to $215 million.
- Extended the maturity date of the primary facility to August 20, 206.
- Confirmed the existence of a separate $200 million facility expiring in 2004.
Guidance, Outlook, and Risks
Management Commentary: The filing incorporates a press release by reference but does not contain specific management commentary, forward-looking guidance, or risk factors within the text provided.
Unusual Items: None reported in the text provided.
Investor Verification Checklist
- Verify the terms and interest rates of the new $215 million facility in the attached press release (Exhibit 99).
- Confirm the total available liquidity by combining the new $215 million facility with the existing $200 million facility.
- Review the covenants associated with the new facility to understand potential restrictions on future operations.
- Check subsequent filings for the utilization rate of the new credit line.