Archrock enters credit agreement, reduces revolver commitments

By Taylor Fox

New York, Feb. 23 – Archrock, Inc., Archrock Partners Operatitng LLC and Archrock Services LP entered a third amendment to its credit agreement that will reduce total revolving commitments to $750 million from $1.25 billion, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also amends the compliance threshold for the total leverage ratio to be no greater than 5.75 to 1 for each fiscal quarter ending March 31 through Dec. 31, 2022, 5.5 to 1 for each fiscal quarter ending March 31, 2023 through Sept. 30, 2023 and 5.25 to 1 for each fiscal quarter ending thereafter.

It also changed the compliance threshold for the senior secured leverage ratio of Archrock, Inc. to be no greater than 3.5 to 1 as of the end of each fiscal quarter through and including the fiscal quarter ending Dec. 31, 2020 and 3 to 1 as of the end of each fiscal quarter thereafter.

JPMorgan Chase Bank, NA is the administrative agent.

Archrock is a Houston-based energy infrastructure company.

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