---
schema_version: "secwatch.filing_event.v1"
accession: "0000101199-23-000069"
form_type: "8-K"
ticker: "UFCS"
cik: "0000101199"
company_name: "UNITED FIRE GROUP INC"
filed_at: "2023-08-09T23:59:59+00:00"
generated_at: "2026-06-11T21:07:11.012434+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# United Fire Group amends credit agreement, reduces net worth covenant and waives prior breach

## Summary
- Third Amendment with Wells Fargo dated Aug 7, 2023 reduces minimum net worth covenant through maturity on March 31, 2024.
- Waiver granted for borrower’s prior noncompliance with the previous minimum net worth covenant.
- Borrower is United Fire & Casualty Company, a wholly owned subsidiary; Credit Agreement was originally dated March 31, 2020.
- Amendment filed as Exhibit 10.1 to the Q2 2023 10-Q; no change to overall credit facility size or maturity.

## SEC filing metadata
- accession: 0000101199-23-000069
- form_type: 8-K
- ticker: UFCS
- cik: 0000101199
- company_name: UNITED FIRE GROUP INC
- filed_at: 2023-08-09T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/101199/000010119923000069/0000101199-23-000069-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/101199/000010119923000069/ufcs-20230809.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000101199-23-000069
- JSON: https://secwatch.observer/filing/0000101199-23-000069.json
- Plain text: https://secwatch.observer/filing/0000101199-23-000069.txt

## Key facts
- Debt Financings
  UNITED FIRE GROUP INC amended credit facility with Wells Fargo Bank, National Association.
  - Instrument: credit facility
  - Counterparty: Wells Fargo Bank, National Association
  - Event: amendment
  source text: (the “Company”) and Wells Fargo Bank, National Association (“Wells Fargo”), in its capacity as administrative agent and sole lender, entered into the Third Amendment to Credit Agreement and Waiver (the “Third Amendment”), which amended that certain Credit Agreement (the “Credit Agreement”), dated as of March 31, 2020, by and among the Borrower, Wells Fargo, as administrative agent and swingline lender and issuing lender, and Wells Fargo Securities, LLC as sole lead arranger and sole bookrunner.
  evidence_url: https://www.sec.gov/Archives/edgar/data/101199/000010119923000069/0000101199-23-000069-index.htm
- Material Agreements
  UNITED FIRE GROUP INC amended Third Amendment to Credit Agreement and Waiver with Wells Fargo Bank, National Association (effective 2023-08-07).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association
  - Effective: 2023-08-07
  source text: On August 7, 2023, United Fire & Casualty Company (the “Borrower”), a wholly owned subsidiary of United Fire Group, Inc. (the “Company”) and Wells Fargo Bank, National Association (“Wells Fargo”), in its capacity as administrative agent and sole lender, entered into the Third Amendment to Credit Agreement and Waiver (the “Third Amendment”), which amended that certain Credit Agreement (the “Credit Agreement”), dated as of March 31, 2020, by and among the Borrower, Wells Fargo, as administrative agent and swingline lender and issuing lender, and Wells Fargo Securities, LLC as sole lead arranger and sole bookrunner.
  evidence_url: https://www.sec.gov/Archives/edgar/data/101199/000010119923000069/0000101199-23-000069-index.htm

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