This is a balance-sheet refinancing that extends maturities and increases revolving capacity from $850M to $1.0B. No change to operating fundamentals. Monitor upcoming quarterly results for revenue and earnings trends, as the stock has underperformed following prior filings.
Price Chart
Executive Summary
Amentum Holdings entered into a First Amendment to its Credit Agreement, refinancing its existing debt with a new $1.400 billion Term Loan A facility, a new $1.591 billion Term Loan B facility, and a new $1.000 billion revolving credit facility. The proceeds were used to repay all outstanding borrowings under the prior credit agreement. This is a routine refinancing that extends maturities and increases the revolving commitment, but does not change the company's fundamental operating performance.
Key Financial Metrics
Key Facts
- Amentum entered into a First Amendment to its Credit Agreement on April 24, 2026.
- The amendment establishes a new $1.400 billion Term Loan A facility, a new $1.591 billion Term Loan B facility, and a new $1.000 billion revolving credit facility.
- Proceeds were used to repay all outstanding borrowings under the existing credit agreement.
- The Term Loan A and revolving facility mature on April 24, 2031; the Term Loan B facility matures on September 27, 2031.
- The Term Loan A and revolving facility include a financial maintenance covenant (max first lien net leverage ratio of 4.50x, stepping to 5.00x after qualified acquisitions).
- The Term Loan B facility has no financial maintenance covenant.
- Amentum Services and Amentum Technology were added as co-borrowers under the term facilities.
Financial Impact
Total refinancing of approximately $3.991 billion in new credit facilities ($1.400B Term A + $1.591B Term B + $1.000B revolver), replacing prior debt. No new net debt raised.
Risk Factors
- Increased leverage from the new facilities could pressure credit metrics if earnings decline.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0002011286-26-000011 |
| Document: amtm-20260424.htm | 0002011286-26-000011 |
| Document: 0002011286-26-000011-index-headers.html | 0002011286-26-000011 |
| Document: 0002011286-26-000011-index.html | 0002011286-26-000011 |
| Document: 0002011286-26-000011.txt | 0002011286-26-000011 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | GOVT-CONTRACT | — | awaiting T+20 | — | — |
Sep 30, 2026 26d ago | GOVT-CONTRACT | $18.48 | awaiting T+20 | — | $22.07 (+19.40%) |
Sep 29, 2026 27d ago | GOVT-CONTRACT | $18.12 | awaiting T+20 | — | $22.07 (+21.77%) |
Sep 22, 2026 4w ago | GOVT-CONTRACT | $19.71 $20.15 | ▲ +2.23% | ▲ +1.54% | $22.07 (+11.95%) |
Sep 18, 2026 5w ago | GOVT-CONTRACT | $19.90 $19.48 | ▼ −2.11% | ▼ −1.20% | $22.07 (+10.88%) |
Jul 31, 2026 12w ago | GOVT-CONTRACT | $23.18 $19.99 | ▼ −13.76% | ▼ −15.00% | $22.07 (−4.81%) |
Jul 31, 2026 12w ago | GOVT-CONTRACT | $23.18 $19.99 | ▼ −13.76% | ▼ −15.00% | $22.07 (−4.81%) |
Jul 20, 2026 14w ago | GOVT-CONTRACT | $20.98 $20.95 | ▼ −0.14% | ▼ −2.70% | $22.07 (+5.17%) |
Jul 9, 2026 15w ago | GOVT-CONTRACT | $21.01 $24.77 | ▲ +17.90% | ▲ +15.47% | $22.07 (+5.02%) |
Jun 11, 2026 19w ago | Institutional Cluster | $22.86 $21.01 | ▼ −8.09% | ▼ −9.87% | $22.07 (−3.48%) |
US Market Status
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