secwatch.observer — SEC 8-K summary
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Issuer:     Southwest Gas Holdings, Inc. (SWX)
CIK:        0001692115
Form:       8-K
Filed at:   2024-03-22T23:59:59+00:00
Accession:  0001193125-24-075301
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Southwest Gas subsidiary Centuri amends credit facility to increase leverage covenants for Q1-Q3 2024
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- Max total net leverage ratio raised to 5.75x for Q1 2024, 6.00x for Q2 2024, 5.75x for Q3 2024.
- Interest coverage ratio floor lowered to 2.00x for Q1 through Q4 2024; reverts to 2.50x thereafter.
- Additional leverage covenant cushion available if Centuri completes a Qualified IPO ≥$100M before March 2025.
- Amendment provides significant covenant headroom, suggesting higher near-term leverage expectations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1692115/000119312524075301/0001193125-24-075301-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1692115/000119312524075301/d773058d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-075301

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