{"schema_version":"secwatch.filing_event.v1","accession":"0000008947-23-000162","form_type":"8-K","ticker":"AZZ","cik":"0000008947","company_name":"AZZ INC","filed_at":"2023-12-21T23:59:59+00:00","discovered_at":"2026-05-14T18:03:32.318494+00:00","generated_at":"2026-06-07T09:38:15.949301+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"AZZ reprices $400M revolver; interest margin cut by 125 bps plus 10 bps CSA removal","bullets":["Interest rate margin reduced from 425 bps to SOFR + 275-350 bps; opens at SOFR + 300 bps.","10 bps credit spread adjustment removed from all borrowings under the facility.","Commitment fee reduced by 125 bps, subject to pricing grid.","CFO says net debt-to-EBITDA leverage target remains below 3.0x.","No other changes to the existing credit agreement."],"urls":{"canonical":"https://secwatch.observer/filing/0000008947-23-000162","json":"https://secwatch.observer/filing/0000008947-23-000162.json","markdown":"https://secwatch.observer/filing/0000008947-23-000162.md","text":"https://secwatch.observer/filing/0000008947-23-000162.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/8947/000000894723000162/0000008947-23-000162-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/8947/000000894723000162/azz-20231220.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T09:38:15.949301+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"fe1df2c9b2b0ce7fb0c5278822d2f25efbc08f52","claim":"AZZ INC amended revolving credit with Citibank, N.A. at margin ranging from 275 basis points to 350 basis points subject to leverage rat.","evidence_excerpt":"The Second Amendment (a) decreased the interest rate margin applicable to the Revolving Credit Loans from 425 basis points to margin ranging from 275 basis points to 350 basis points subject to leverage ratio step-down; (b) reduced the interest rate further by eliminating SOFR loan credit spread adjustment; and (c) reduced the Commitment Fee applicable to the Revolving Credit Loans by 125 basis points, subject to pricing grid.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/8947/000000894723000162/0000008947-23-000162-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Counterparty","value":"Citibank, N.A."},{"label":"Rate","value":"margin ranging from 275 basis points to 350 basis points subject to leverage rat"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"fdb1a26e1022bae04759ea263ffa0ef0c4008e7e","claim":"AZZ INC amended Second Amendment with Citibank, N.A. (effective 2023-12-20).","evidence_excerpt":"On December 20, 2023, AZZ Inc. (the \" Company \") entered into the Second Amendment to its existing Credit Agreement referenced below with Citibank, N.A. (“ Citi ”), as Administrative Agent and Collateral Agent and the requisite lenders (the \" Second Amendment \").","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/8947/000000894723000162/0000008947-23-000162-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Citibank, N.A."},{"label":"Effective","value":"2023-12-20"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}