{"schema_version":"secwatch.filing_event.v1","accession":"0000719733-24-000017","form_type":"8-K","ticker":"KTCC","cik":"0000719733","company_name":"KEY TRONIC CORP","filed_at":"2024-05-13T23:59:59+00:00","discovered_at":"2026-05-14T18:03:21.771036+00:00","generated_at":"2026-06-02T02:56:08.535078+00:00","sec_items":["1.01","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Key Tronic amends credit agreement; loosens covenant but raises cost, shortens maturity","bullets":["Fixed charge coverage ratio floor reduced to 1.00:1.00 (from 1.25:1) as of March 30, 2024, stepping back to 1.25:1 by March 29, 2025.","Interest rate increased by 100 basis points effective March 29, 2024; maturity accelerated to September 3, 2025 (from original ~4 years later).","Amendment allows add-back of up to $3.7M in one-time expenses incurred in March 2024 to EBITDA; $50,000 amendment fee payable.","Availability block set at $8M; borrowing margins based on average daily availability tiers up to 4.00% over Term SOFR."],"urls":{"canonical":"https://secwatch.observer/filing/0000719733-24-000017","json":"https://secwatch.observer/filing/0000719733-24-000017.json","markdown":"https://secwatch.observer/filing/0000719733-24-000017.md","text":"https://secwatch.observer/filing/0000719733-24-000017.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/719733/000071973324000017/0000719733-24-000017-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/719733/000071973324000017/ktcc-20240507.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-02T02:56:08.535078+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"e46404dac9e97d24fb6ee9fc0fcf5b441ae13d04","claim":"KEY TRONIC CORP amended Fourth Amendment to the Loan, Guaranty, and Security Agreement with Bank of America, N.A. (effective 2024-03-29).","evidence_excerpt":"On May 7, 2024, Key Tronic Corporation (the \"Company\") and certain of its domestic subsidiaries executed the Fourth Amendment (the “Amendment”) to the Loan, Guaranty, and Security Agreement, dated as of August 14, 2020 (the “Loan Agreement”), effective as of March 29, 2024, with Bank of America, N.A., as agent, sole lead arranger, sole bookrunner, and lender.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/719733/000071973324000017/0000719733-24-000017-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Bank of America, N.A."},{"label":"Effective","value":"2024-03-29"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}