---
schema_version: "secwatch.filing_event.v1"
accession: "0001220754-24-000009"
form_type: "8-K"
ticker: null
cik: "0001220754"
company_name: "ModivCare Inc"
filed_at: "2024-02-22T23:59:59+00:00"
generated_at: "2026-06-05T18:27:32.242409+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# ModivCare amends credit agreement; raises max leverage covenant, adds $100M liquidity minimum

## Summary
- Max Total Net Leverage Ratio raised to 5.50:1.00 for Q1-Q2 2024, stepping down to 4.75:1.00 by Q1 2026.
- New $100M minimum Liquidity covenant, tested quarterly; Interest Coverage Ratio floor lowered to 2.75:1.00.
- Interest rate margin increased by 50 bps during relief period; Term Benchmark spread reaches 4.00% at high leverage.
- Company may early terminate Covenant Relief Period, reverting to original leverage and coverage covenants.

## SEC filing metadata
- accession: 0001220754-24-000009
- form_type: 8-K
- cik: 0001220754
- company_name: ModivCare Inc
- filed_at: 2024-02-22T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1220754/000122075424000009/0001220754-24-000009-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1220754/000122075424000009/prsc-20240222.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001220754-24-000009
- JSON: https://secwatch.observer/filing/0001220754-24-000009.json
- Plain text: https://secwatch.observer/filing/0001220754-24-000009.txt

## Key facts
- Debt Financings
  ModivCare Inc amended credit facility with JPMorgan Chase Bank, N.A. at increase of 50 basis points in the interest rate margin.
  - Instrument: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Rate: increase of 50 basis points in the interest rate margin
  - Event: amendment
  source text: On February 22, 2024, ModivCare Inc. (the “Company”) entered into an Amendment No. 2 (the “Second Amendment”) to its Credit Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1220754/000122075424000009/0001220754-24-000009-index.htm

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