ASHFORD HOSPITALITY PRIME,INC. (NYSE:AHP-B) Files An 8-K Other EventsItem 8.01 Other Events.
On December22, 2017, Ashford Hospitality Prime,Inc. entered into the First Amendment (the “Amendment”) to its Amended and Restated Credit Agreement (the “Credit Facility”) with Ashford Hospitality Prime Limited Partnership, the Company’s operating partnership (the “Borrower”), Bank of America, N.A., as administrative agent, and the other financial institutions party thereto. The Amendment replaces the Borrower’s covenant to maintain a consolidated leverage ratio with a covenant to maintain a ratio of consolidated debt to Adjusted TAV (as defined in the Credit Facility, as amended by the Amendment) of no more than 60%.
The description of the Amendment in this Current Report on Form8-K is qualified in its entirety by reference to the full text of the Amendment, which is attached as Exhibit99.1 to this Current Report and incorporated herein.
Item 9.01 Financial Statements and Exhibits.