Item 1.01. Entry into a Material Definitive Agreement.
On
Consistent with Morningstar's existing senior credit facility, the Credit Agreement provides that the Borrower shall have a Consolidated Leverage Ratio as of the end of any fiscal quarter of not greater than 3.50 to 1.00; provided that, solely with respect to the four fiscal quarters following any Material Acquisition (as defined in the Credit Agreement), the Consolidated Leverage Ratio determined as of the end of such four fiscal quarters shall not be greater than 3.75 to 1.00. The Credit Agreement provides that the Borrower shall have a Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of not less than 3.00 to 1.00.
Morningstar's obligations under the Credit Agreement are unconditionally
guaranteed by Morningstar's subsidiaries,
This summary of the Credit Agreement does not purport to be complete and is subject to, and qualified in its entirety by, reference to the Credit Agreement that is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement.
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
Item 7.01 Regulation FD Disclosure.
On
Item 9.01. Financial Statements and Exhibits.
Include the following information:
(d) Exhibits. Exhibit No. Description 10.1 Credit Agreement dated of asJune 30, 2020 amongMorningstar, Inc. , certain subsidiaries ofMorningstar, Inc. , and lendersBank of America, N.A . andJPMorgan Chase Bank, N.A . 99.1 Press Release datedJuly 6, 2020 . 104 Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)
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