SIFCO INDUSTRIES INC (SIF): debt financing — SIFCO receives JPMorgan default notice for failure to deliver borrowing base certificates due to cyber incident

SIFCO INDUSTRIES INC

JPMorgan issued default notice for failure to deliver required Borrowing Base Certificates under Credit Agreements.
Default attributed to information access limitations from cyber incident on December 30, 2022.
Company in good faith discussions with JPMorgan to resolve Existing Defaults.
Financial reporting systems impacted; company continues investigation and remediation; material impact not yet determined.
Notice reserves all lender rights; no waiver of defaults or obligation to extend further credit.

item 2.04 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SIFCO INDUSTRIES INC reported a default on credit facility with J.P. Morgan Chase Bank, N.A..

Instrument: credit facility
Counterparty: J.P. Morgan Chase Bank, N.A.
Event: default

Exact text from the filing

received a Notice of Event of Default and Reservation of Rights (the “Notice”) from J.P. Morgan Chase Bank, N.A., as Lender, with respect to (i) that certain Credit Agreement dated as of August 8, 2018

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Source: SEC EDGAR

accession 0000090168-23-000006

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