MGP Ingredients amends credit agreements to add back up to $20M uncollected receivables

MGP INGREDIENTS INC

Amendment No. 2 with Wells Fargo allows add-back of up to $20M aggregate losses on uncollected receivables from identified customers through Dec 31, 2027.
Company exercised Elevated Ratio Period: net leverage covenant raised to 4.50x from 4.00x for Q2 2026 through Q1 2027, tied to Penelope Bourbon earnout.
Eighth Amendment with PGIM makes conforming changes to Consolidated EBITDA definition in note purchase agreement.
Company calls amendments precautionary; expects Q3 2026 peak leverage, then decline; full banking group participation.
Fixed charge coverage covenant remains at 1.25x; recovered receivables must be deducted from EBITDA.

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