Ultra Clean Holdings, Inc. 8-K

What Happened

• Ultra Clean Holdings, Inc. (UCTT) announced a Ninth Amendment to its Credit Agreement dated February 26, 2026, with Barclays Bank PLC as administrative agent.
• The amendment increases the maximum permitted "Consolidated Total Gross Leverage Ratio" for the revolving credit facility to 6.00 to 1.00 and is limited to the fiscal periods ending on or about March 31, 2026 and June 30, 2026. The underlying Credit Agreement originally dates to August 27, 2018.

Key Details

• Amendment date: February 26, 2026; 8‑K filed February 27, 2026.
• New temporary covenant limit: Consolidated Total Gross Leverage Ratio raised to 6.00:1.00.
• Scope: Applies only to the revolving credit facility and only for the two fiscal periods noted (around Mar 31, 2026 and Jun 30, 2026).
• Administrative agent: Barclays Bank PLC; full amendment will be filed as an exhibit to UCTT’s Quarterly Report for the quarter ended March 27, 2026.

Why It Matters

• The temporary relaxation of the leverage covenant gives Ultra Clean more headroom on its revolving credit covenant tests for the next two quarters, which can reduce the near‑term risk of a technical default if leverage rises.
• This is a financing/covenant change (not an earnings or management announcement). Investors should monitor upcoming quarterly filings and liquidity metrics to see how leverage and cash flow trends evolve and whether the company returns to previous covenant levels after June 2026.