---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-091944"
form_type: "8-K"
ticker: "GHM"
cik: "0000716314"
company_name: "GRAHAM CORP"
filed_at: "2022-03-31T23:59:59+00:00"
generated_at: "2026-06-26T12:47:37.108532+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Graham Corp amends credit agreement, waives covenants through Sept 2022, reduces line to $15M

## Summary
- Waived maximum total leverage ratio and fixed charge coverage requirements through September 30, 2022.
- Line of credit reduced from $30M to $15M; interest rate unchanged at BSBY plus 1.5%.
- New covenants: max net loss $10M for FY ending March 2022; adjusted EBITDA minimums $2.0M (June 2022) and $2.25M (Sept 2022).
- Requires minimum liquidity of $10M through FY 2023 reporting, then $20M; no dividends allowed until compliance.
- Company paid down approximately $10M in debt in Q4 ending March 2022; no borrowings on line as of March 31, 2022.

## SEC filing metadata
- accession: 0001193125-22-091944
- form_type: 8-K
- ticker: GHM
- cik: 0000716314
- company_name: GRAHAM CORP
- filed_at: 2022-03-31T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/716314/000119312522091944/0001193125-22-091944-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/716314/000119312522091944/d317076d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-091944
- JSON: https://secwatch.observer/filing/0001193125-22-091944.json
- Plain text: https://secwatch.observer/filing/0001193125-22-091944.txt

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