---
schema_version: "secwatch.filing_event.v1"
accession: "0000719733-24-000105"
form_type: "8-K"
ticker: "KTCC"
cik: "0000719733"
company_name: "KEY TRONIC CORP"
filed_at: "2024-10-10T23:59:59+00:00"
generated_at: "2026-05-30T17:02:41.716366+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Key Tronic obtains waiver of loan defaults; interest rate up 50bps, availability block raised

## Summary
- Sixth amendment waives defaults for fixed-charge coverage ratio misses in June and July 2024 and late audited financials.
- Interest rate margins increased 50 bps: Base Rate loans now 3.50%, Term SOFR loans now 4.50%.
- Availability block (borrowing limit) raised from $8M to $10M effective Oct 9, 2024; to rise to $11M on Dec 31, 2024 and $12M on Mar 31, 2025.
- Existing defaults triggered by failing to maintain fixed-charge coverage ratio below 1.00:1.00 (June) and 1.05:1.00 (July) plus delayed audited statements.
- Amendment effective October 9, 2024; lenders include Bank of America as agent.

## SEC filing metadata
- accession: 0000719733-24-000105
- form_type: 8-K
- ticker: KTCC
- cik: 0000719733
- company_name: KEY TRONIC CORP
- filed_at: 2024-10-10T23:59:59+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/719733/000071973324000105/0000719733-24-000105-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/719733/000071973324000105/ktcc-20241009.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000719733-24-000105
- JSON: https://secwatch.observer/filing/0000719733-24-000105.json
- Plain text: https://secwatch.observer/filing/0000719733-24-000105.txt

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