On January 31 USD Partners and USD Terminals Canada an indirect, wholly-owned subsidiary of the Partnership and the subsidiary guarantors party thereto, entered into an amendment to the Borrowers’ existing revolving credit agreement, dated as of November 2, 2018. Among other things, the Amendment provides the Partnership with relief from compliance with the Credit Agreement’s maximum consolidated leverage ratio and minimum consolidated interest coverage ratio through the Credit Agreement’s current maturity date, as management works to obtain renewals, extensions or replacements of agreements that expired during 2022 and those that are set to expire this year. Management continues to see positive momentum around the Partnership’s re-contracting negotiations. Additional details regarding the Amendment are included in the Partnership’s Current Report on Form 8-K filed on February 6.
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