secwatch.observer — SEC 8-K summary
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Issuer:     USD Partners LP (USDP)
CIK:        0001610682
Form:       8-K
Filed at:   2023-03-01T23:59:59+00:00
Accession:  0001610682-23-000022
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

USD Partners Q4 net loss $3.2M; credit facility amended, expires Nov 2023
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- Q4 2022 net loss of $3.2M vs net income of $4.3M in Q4 2021; Adjusted EBITDA $13.3M, DCF $9.6M.
- Revenue declined on lower contracted capacity at Hardisty terminal, Stroud contract end, and lower Casper throughput.
- Quarterly distribution unchanged at $0.1235/unit; sponsor waived distribution on its 17.3M units, saving ~$2.1M.
- Jan 2023 credit facility amendment provides relief from leverage and interest coverage covenants; facility matures Nov 2, 2023.
- Borrowing capacity limited to 5.0x trailing EBITDA through Dec 2022; $55.5M available as of Dec 31, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1610682/000161068223000022/0001610682-23-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1610682/000161068223000022/usdp-20230301.htm
  HTML page:      https://secwatch.observer/filing/0001610682-23-000022

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