secwatch.observer — SEC 8-K summary
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Issuer:     MARTIN MIDSTREAM PARTNERS L.P. (MMLP)
CIK:        0001176334
Form:       8-K
Filed at:   2025-02-18T23:59:59+00:00
Accession:  0001176334-25-000022
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MMLP eases credit covenants for Q1-Q3 2025; adopts phantom unit plan
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- Credit agreement amended: interest coverage ratio floor lowered to 1.75x for Q1-Q3 2025 from 2.00x, then back to 2.00x.
- First lien leverage ratio maximum reduced to 1.25x for Q1-Q3 2025 from 1.50x, then back to 1.50x.
- Board approved 2025 Phantom Unit Plan; 1.21M phantom units and 425K appreciation rights granted to employees.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1176334/000117633425000022/0001176334-25-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1176334/000117633425000022/mmlp-20250211.htm
  HTML page:      https://secwatch.observer/filing/0001176334-25-000022

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer