---
schema_version: "secwatch.filing_event.v1"
accession: "0000090168-23-000014"
form_type: "8-K"
ticker: "SIF"
cik: "0000090168"
company_name: "SIFCO INDUSTRIES INC"
filed_at: "2023-04-12T23:59:59+00:00"
generated_at: "2026-06-17T03:26:08.229186+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SIFCO receives JPMorgan notice of potential reserve reduction up to $1M; cyber incident continues to delay Q1 filing

## Summary
- JPMorgan may reduce borrowing base reserves by up to $1M and has no obligation to make loans or issue letters of credit.
- Company continues good-faith discussions with lender to resolve defaults originally disclosed February 6, 2023.
- December 30, 2022 cyber incident delayed fiscal Q1 2023 10-Q; information access limitations now lifted.
- Company evaluates impact of cyber incident on operations, controls, and financial results; meets customer needs.

## SEC filing metadata
- accession: 0000090168-23-000014
- form_type: 8-K
- ticker: SIF
- cik: 0000090168
- company_name: SIFCO INDUSTRIES INC
- filed_at: 2023-04-12T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.04, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/90168/000009016823000014/0000090168-23-000014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/90168/000009016823000014/sif-20230405.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000090168-23-000014
- JSON: https://secwatch.observer/filing/0000090168-23-000014.json
- Plain text: https://secwatch.observer/filing/0000090168-23-000014.txt

## Key facts
- Debt Financings
  SIFCO INDUSTRIES INC reported a default on credit facility with JPMorgan Chase Bank, N.A., as Lender.
  - Instrument: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as Lender
  - Event: default
  source text: On April 5, 2023, the Company received written correspondence (the “Subsequent Notice”) with respect to the Credit Agreements in which Lender indicated further that (i) it is still in the process of evaluating the Existing Default described in the Notice; (ii) Lender may reduce the Reserves under the Borrowing Base in the Credit Agreements by up to $1,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/90168/000009016823000014/0000090168-23-000014-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.