Star Group amends credit facility; relaxes fixed charge coverage ratios temporarily

STAR GROUP, L.P.

Petro, a Star subsidiary, signed first amendment to Sixth Amended and Restated Credit Agreement on Sept 26, 2023.
Minimum fixed charge coverage ratio for distributions/repurchases reduced to 1.00:1.00 from Oct 31, 2023 to Feb 27, 2024.
Same ratio reduction applies if availability under facility drops below 12.5% during the Relief Period.
Temporary relief is intended to allow continued distributions and unit repurchases or support acquisition-related liquidity needs.
Ratios revert to original levels after Feb 28, 2024; no other covenant changes.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

STAR GROUP, L.P. amended first amendment with a group of banks (effective 2023-09-26).

Action: amendment
Agreement: credit facility
Counterparty: a group of banks
Effective: 2023-09-26

Exact text from the filing

Petroleum Heat and Power Co., Inc., a Minnesota corporation (“Petro”), which is an indirect subsidiary of Star Group, L.P., a Delaware limited partnership (the “Partnership” or “Star”), signed a first amendment (the “Amendment”) to its Sixth Amended and Restated Credit Agreement with a group of banks (the “Credit Agreement”), which provides temporary relief from certain financial covenants under the Credit Agreement that must be satisfied in order for the Partnership to make distributions and unit repurchases

View on SEC.gov

Browse all material agreements →

STAR GROUP, L.P. filing history →

Source: SEC EDGAR

accession 0000950170-23-049945

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.