Archrock, Inc., Archrock Partners Operating LLC and Archrock Services, L.P. Enters into Amendment No. 3 to Credit Agreement
February 23, 2021 at 06:02 am EST
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On February 22, 2021 (the “Amendment No. 3 Effective Date”), Archrock, Inc., Archrock Partners Operating LLC and Archrock Services, L.P. (collectively, the “Borrowers”), and other wholly owned subsidiaries (the “Archrock Subsidiaries”) entered into an Amendment No. 3 to Credit Agreement (“Amendment No. 3”), which amends that certain Credit Agreement, dated as of March 30, 2017 (as amended, the “Credit Agreement”), among us, the Borrowers, the Archrock Subsidiaries, JPMorgan Chase Bank, N.A., as administrative agent for the lenders thereunder (in such capacity, the “Administrative Agent”), and the lenders party thereto. Pursuant to Amendment No. 3, on the Amendment No. 3 Effective Date, among other things, reduced total revolving commitments under the Credit Agreement from $1,250,000,000 to $750,000,000, (b) amended the compliance threshold for the Total Leverage Ratio (as defined in the Credit Agreement) to be no greater than the following ratios: (i) 5.75 to 1.00 for each fiscal quarter ending March 31, 2021 through December 31, 2022, (ii) 5.50 to 1.00 for each fiscal quarter ending March 31, 2023 through September 30, 2023, and (iii) 5.25 to 1.00 for each fiscal quarter ending thereafter, and (c) changed the compliance threshold for the Senior Secured Leverage Ratio (as defined in the Credit Agreement) of Archrock, Inc. to be no greater than the following ratios: (i) 3.50 to 1.00 as of the end of each fiscal quarter through and including the fiscal quarter ending December 31, 2020 and (ii) 3.00 to 1.00 as of the end of the each fiscal quarter thereafter.
Archrock, Inc. is an energy infrastructure company with a primary focus on midstream natural gas compression. The Company is a provider of natural gas compression services to customers in the energy industry throughout. the United States. It is a supplier of aftermarket services to customers that own compression equipment. Its segments include Contract Operations and Aftermarket Services. The Contract Operations business is comprised of its owned fleet of natural gas compression equipment that it use to provide operations services to its customers. The aftermarket services business provides a full range of services to support the compression needs of its customers that own compression equipment, including operations, maintenance, overhaul and reconfiguration services and sales of parts and components. It provides comprehensive contract operations services, such as personnel, equipment, tools, materials and supplies to meet its customerâs natural gas compression needs.
ARCHROCK, INC. 
