Limoneira Amends Loan Agreement With AgWest Farm Credit to Tighten Financial Covenants
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Limoneira Company has amended its loan agreement with AgWest Farm Credit, introducing stricter financial covenants. The company must maintain a Minimum Debt Service Coverage Ratio of 1.25 to 1.00 and a Total Net Leverage Ratio of no more than 4.50 to 1.00 for fiscal periods ending October 31, 2027, and beyond. Additionally, a Debt to Capitalization Ratio not exceeding 0.45 to 1.00 is required quarterly from January 31, 2026, through July 31, 2027. These changes tighten Limoneira's financial obligations.
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