---
schema_version: "secwatch.filing_event.v1"
accession: "0000108385-22-000047"
form_type: "8-K"
ticker: "WRLD"
cik: "0000108385"
company_name: "WORLD ACCEPTANCE CORP"
filed_at: "2022-11-23T23:59:59+00:00"
generated_at: "2026-06-21T13:17:18.654696+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# World Acceptance amends credit facility: advance rate cut to 62%, dividend restricted

## Summary
- Advance rate lowered from 74% to 62% for Oct 2022–Jun 2023 when collateral performance exceeds 24%.
- Fixed charge coverage ratio reduced to as low as 1.15x for Q1–Q2 FY2023, then steps back up to 2.75x.
- Dividends and stock repurchases prohibited unless trailing four-quarter fixed charge coverage ≥2.0x.
- Total debt as % of adjusted net worth capped at 250% for Q4 FY2022, 225% for Q1–Q2 FY2023, then 250%.
- Amendment fee of $685,000 paid to lenders; collateral performance must stay ≤28% through Jun 2023.

## SEC filing metadata
- accession: 0000108385-22-000047
- form_type: 8-K
- ticker: WRLD
- cik: 0000108385
- company_name: WORLD ACCEPTANCE CORP
- filed_at: 2022-11-23T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/108385/000010838522000047/0000108385-22-000047-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/108385/000010838522000047/wrld-20221123.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000108385-22-000047
- JSON: https://secwatch.observer/filing/0000108385-22-000047.json
- Plain text: https://secwatch.observer/filing/0000108385-22-000047.txt

## Key facts
- Material Agreements
  WORLD ACCEPTANCE CORP amended Ninth Amendment with Wells Fargo Bank, National Association, as Administrative Agent and Collateral Agent (effective 2022-11-23).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association, as Administrative Agent and Collateral Agent
  - Effective: 2022-11-23
  source text: On November 23, 2022, World Acceptance Corporation (the “Company”) entered into the Ninth Amendment to its Amended and Restated Revolving Credit Agreement (the “Ninth Amendment”), among the Company, the lenders named therein, and Wells Fargo Bank, National Association, as Administrative Agent and Collateral Agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/108385/000010838522000047/0000108385-22-000047-index.htm

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