COLUMBUS MCKINNON CORP — Form 10-Q
Filed November 3, 2026 · analyzed by the Periodic Agent
10-Q
▼ Likely negative
significance 62/100
What the filing says
Columbus McKinnon and Wells Fargo executed a Fourth Amendment to their Credit and Security Agreement dated October 29, 2026, waiving covenant breaches that occurred when delinquency ratios exceeded 16.0% and default ratios exceeded 3.0% for both August and September 2026. The waiver is limited to these specific breaches and does not release Wells Fargo from other claims or remedies. The underlying Credit Agreement, originally dated June 20, 2023, is a receivables financing facility with a $40–75 million facility limit.
Why this rating
Real credit stress: repeated covenant breaches in material loan covenants (delinquency/default) signal deterioration in receivables quality. At ~$412M market cap, a $40–75M receivables facility is material (10–18% of firm value). Breach + waiver implies operational/credit pressure but lender relationship intact. Not business-ending, but notable warning.
See more from November 3, 2026.
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