Covenant compliance

Northwind Manufacturing, Inc. · $45M senior secured credit facility — Term Loan + Revolver

Q1 2026 · certificate due 2026-04-30

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Project forward

1 covenant in breach · 1 on watch

Total Leverage, Maximum Capex need attention as of 2026-Q1. Review the headroom below and project forward.

Overall status

Breach

TTM EBITDA

$10.1M

Total funded debt

$33M

Liquidity

$3.9M

Minimum DSCR

In compliance

Cash available to service debt, after taxes and unfinanced capex.

Current

2.01×

Covenant

≥ 1.20×

Headroom +68%tested quarterly

Maximum Total Leverage

Watch

Funded debt measured against trailing EBITDA.

Current

3.27×

Covenant

≤ 3.50×

Headroom +7%tested quarterly

Minimum Fixed-Charge Coverage

In compliance

Earnings cover debt service plus rent and other fixed charges.

Current

1.78×

Covenant

≥ 1.10×

Headroom +62%tested quarterly

Minimum Liquidity

In compliance

Unrestricted cash plus undrawn revolver availability.

Current

$3.9M

Covenant

≥ $500K

Headroom +680%tested quarterly

Maximum Annual Capex

Breach

Trailing capital expenditure against the annual ceiling.

Current

$1.1M

Covenant

≤ $1M

Headroom -5%tested ttm