ModivCare Amends Credit Terms for Enhanced Financial Flexibility

ModivCare (MODV) has released an update.

ModivCare Inc. has revised its financial covenants by amending its Credit Agreement, which allows for an increased Total Net Leverage Ratio until March 31, 2026. This adjustment comes with a slight interest rate hike and a new minimum liquidity requirement. Additionally, the company has the flexibility to end this period early under certain conditions, reverting to previous leverage ratio levels. The amendment also introduces a lowered minimum Interest Coverage Ratio, providing ModivCare with greater financial maneuverability.

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