FS KKR Capital Corp 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed by FS Investment Corporation (also referenced as FS KKR Capital Corp) on March 29, 2018. The report details a corporate governance action taken by the Board of Directors regarding regulatory compliance under the Investment Company Act of 1940.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on a regulatory change rather than financial performance results.
Material Changes
The Board approved a modification to the Company's asset coverage requirements for senior securities. Effective March 29, 2019, the required asset coverage ratio will decrease from 200% to 150%. This change aligns with amendments made by the Small Business Credit Availability Act to Section 61(a)(2) of the 1940 Act.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future performance, or specific risk factors beyond the regulatory adjustment. The primary contingency noted is the future effective date of the new asset coverage requirement (March 29, 2019).
Key Facts for Investor Verification
- The asset coverage requirement for senior securities will drop from 200% to 150%.
- The change becomes effective on March 29, 2019, one year after the Board approval.
- The approval was granted by a "required majority" of the Board as defined in the 1940 Act.
- No financial performance data is included in this specific filing.