secwatch.observer — SEC 8-K summary
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Issuer:     WORLD ACCEPTANCE CORP (WRLD)
CIK:        0000108385
Form:       8-K
Filed at:   2026-05-26T20:35:02+00:00
Accession:  0000108385-26-000011
Event type: debt
Sentiment:  negative
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

World Acceptance obtains temporary covenant relief on credit facility through Sept 2026
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- Fixed charge coverage covenant lowered to 2.20x (Mar 2026), 2.10x (Jun 2026), and 2.15x (Sep 2026), from 2.25x.
- Consenting lenders received a fee of 0.03% of aggregate commitments for the modification.
- Original 2.25x minimum covenant resumes for fiscal quarter ending Dec 31, 2026 and thereafter.
- Company represents that no event of default exists after giving effect to the modification.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/108385/000010838526000011/0000108385-26-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/108385/000010838526000011/wrld-20260522.htm
  HTML page:      https://secwatch.observer/filing/0000108385-26-000011

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