MGP Ingredients Amends Credit Pacts for $20M EBITDA Adjustment

MGP Ingredients, Inc. entered into Amendment No. 2 to its Amended and Restated Credit Agreement and an Eighth Amendment to its Note Purchase and Private Shelf Agreement. These amendments modify the definition of Consolidated EBITDA, allowing the company to add back up to $20 million in losses from specific accounts receivable for periods ending on or prior to December 31, 2027. This change prevents such uncollected receivables from negatively impacting financial covenant calculations. The company also exercised an Elevated Ratio Period related to earnout obligations for the Penelope Bourbon LLC acquisition, starting Q2 2026. MGP Ingredients stated these are precautionary measures and expects leverage to decline after Q3 2026.