Pacs Group lenders agreed to forbearance of events of default

Pacs Group (PACS) disclosed late Friday that it interested into a fifth amendment to its credit agreement. Pursuant to the agreement, the company’s lenders agreed to a forbearance in respect of certain events of default. Truist Bank, Pacs’ administrative agent, and the company’s lenders have agreed to temporarily forbear from exercising the rights and remedies available to them under the credit agreement as a result of events of default during the forbearance period until October 31, 2025. Shares of Pacs Group are down 1% to $11.36 in morning trading.