UGI Corporation's Subsidiary Mountaineer Gas Secures $150 Million Credit Agreement with Huntington National Bank
On May 16, 2025, Mountaineer Gas Company, an indirect, wholly owned subsidiary of UGI Corporation, entered into a new Credit Agreement with The Huntington National Bank and other lenders. This agreement refinances the company's previous 2019 Credit Agreement, establishing a revolving credit commitment of $150 million. The borrowings under this new agreement are unsecured, with obligations guaranteed by any material subsidiaries of Mountaineer, although currently, there are no guarantors. The credit will be used to refinance existing debt, support working capital needs, and serve general corporate purposes. The agreement requires Mountaineer to maintain specific financial covenants, including a maximum debt-to-capitalization ratio of 0.65 to 1.00 and a minimum EBITDA to interest expense ratio of 2.00 to 1.00 for the most recent fiscal quarters.
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