Universal Corp /VA/: amends credit agreement on leverage ratio

What happened

• Universal Corporation filed an 8-K reporting that on Oct 9, 2026 it entered into Amendment No. 1 (the “First Amendment”) to its Credit Agreement, dated Dec 9, 2025, with JPMorgan Chase Bank, N.A., as Administrative Agent and the lenders party thereto.
• The First Amendment amends the Total Net Leverage Ratio covenant and makes certain other non-material amendments; all other terms and conditions of the Credit Agreement remain in full force and effect.

Key details

• The First Amendment changes the maximum Total Net Leverage Ratio, which had been 3.00 to 1.00.
• The revised maximums are: 3.75 to 1.00 for the fiscal quarters ending Sep 30, 2026 and Dec 31, 2026; 3.25 to 1.00 for the fiscal quarter ending Mar 31, 2027; and 3.00 to 1.00 for the fiscal quarter ending Jun 30, 2027 and each fiscal quarter thereafter.
• The First Amendment is filed as Exhibit 10.1 to the Form 8-K.

Why it may matter

• The Form 8-K reports Item 1.01 (entry into a material definitive agreement), which covers the amendment to the company’s Credit Agreement and the Total Net Leverage Ratio covenant. The filing does not show why the company acted.