Tennessee Valley Authority - Form 8-K Summary
Business Context and Reporting Period
This Current Report (Form 8-K) was filed by the Tennessee Valley Authority (TVA), a corporate agency of the United States, on February 21, 2018. The report details a material definitive agreement entered into on the same date.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, margin, or liquidity metrics. The primary financial instrument discussed is a credit agreement with a principal amount of $500,000,000.
Material Changes
- Credit Agreement Amendment: TVA executed an amendment to its existing $500,000,000 credit agreement originally dated August 7, 2015, and previously amended on February 28, 2017.
- Maturity Extension: The amendment extends the maturity date of the credit facility by one year to February 1, 2022.
- Terms: Bank of America, N.A. serves as the Administrative Agent, Letter of Credit Issuer, and a Lender. The filing states that other material terms and conditions of the Credit Agreement were not changed.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or specific risk factors beyond the standard disclosure of the credit agreement amendment. No unusual items or contingencies were reported in this document.
Key Facts for Investor Verification
- Verify the new maturity date of the $500 million credit facility is February 1, 2022.
- Confirm that no other material terms (such as interest rates or covenants) were altered in this amendment.
- Review the full text of the Second Amendment filed as Exhibit 10.1 for detailed legal conditions.