Business Context and Reporting Period
Company: STRATTEC SECURITY CORP
Filing Type: Form 8-K (Current Report)
Date of Report: June 24, 2016
Event: Entry into a Material Definitive Agreement (Third Amendment to Credit Agreement).
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or specific debt balances. The filing focuses exclusively on the amendment of an existing credit facility.
Material Changes
- Credit Facility Extension: The Company entered into a Third Amendment to its Credit Agreement with BMO Harris Bank N.A.
- Term Extension: The amendment extends the term of the credit facility from its previous maturity date to August 1, 2019.
- Agreement History: This amends the original August 1, 2011 agreement, which was previously amended in December 2013 and June 2015.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook for future periods. No specific risks or contingencies are detailed in the text of this report, other than the standard disclosure of the amended debt obligation.
Investor Verification Checklist
- Verify the specific terms of the Third Amendment (Exhibit 99.1) regarding interest rates, covenants, and fees, as these are not detailed in the summary text.
- Confirm the total outstanding principal balance under the STRATTEC Credit Agreement to assess the impact of the maturity extension.
- Review the Company's most recent 10-Q or 10-K for current liquidity positions and debt service coverage ratios.