secwatch.observer — SEC 8-K summary
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Issuer:     WORLD ACCEPTANCE CORP (WRLD)
CIK:        0000108385
Form:       8-K
Filed at:   2024-02-28T23:59:59+00:00
Accession:  0000108385-24-000012
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

World Acceptance relaxes credit covenants: fixed charge coverage floor to 2.00x, debt-to-net worth limit to 225%
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- Net Income Available for Fixed Charges ratio lowered from 2.25:1 to 2.00:1 for quarters ending Mar 31, 2024 through Dec 31, 2024.
- Total Debt to Consolidated Adjusted Net Worth covenant set at maximum 225% for remainder of credit agreement term.
- Amendment clarifies Electronic Chattel Paper conditions for inclusion in Borrowing Base; must satisfy defined criteria.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/108385/000010838524000012/0000108385-24-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/108385/000010838524000012/wrld-20240228.htm
  HTML page:      https://secwatch.observer/filing/0000108385-24-000012

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer