secwatch.observer — SEC 8-K summary
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Issuer:     Verisk Analytics, Inc. (VRSK)
CIK:        0001442145
Form:       8-K
Filed at:   2023-04-05T23:59:59+00:00
Accession:  0000950103-23-005450
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Verisk extends $1.0B revolver maturity to 2028, eases leverage covenant
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- Extended maturity of $1.0B revolving credit facility to five years from April 5, 2023 (now due 2028).
- Implemented Term SOFR, SOFR Daily Floating Rate, and SONIA as reference rates; reduced unused commitment fee.
- Increased max consolidated funded debt leverage ratio from 3.50x to 3.75x, with temporary step-ups to 4.25x and 4.50x for permitted acquisitions.
- KeyBank and First Commercial Bank exited as lenders; new lenders joined; all borrowings remain unsecured.
- Other terms of the credit agreement unchanged; no default or material adverse effect occurred.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1442145/000095010323005450/0000950103-23-005450-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1442145/000095010323005450/dp191968_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-23-005450

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