---
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"
generated_at: "2026-06-02T02:56:08.535078+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Key Tronic amends credit agreement; loosens covenant but raises cost, shortens maturity

## Summary
- 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.

## SEC filing metadata
- 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
- 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/719733/000071973324000017/0000719733-24-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/719733/000071973324000017/ktcc-20240507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000719733-24-000017
- JSON: https://secwatch.observer/filing/0000719733-24-000017.json
- Plain text: https://secwatch.observer/filing/0000719733-24-000017.txt

## Key facts
- Material Agreements
  KEY TRONIC CORP amended Fourth Amendment to the Loan, Guaranty, and Security Agreement with Bank of America, N.A. (effective 2024-03-29).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A.
  - Effective: 2024-03-29
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/719733/000071973324000017/0000719733-24-000017-index.htm

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