ENNIS, INC. Debt Disclosure
(8) Long-Term Debt
The Company did not renew its Credit Agreement which expired November 11, 2021. The Company has had no outstanding long term debt under the revolving credit line since paid in August 2019. As of November 30, 2021, the Company had $0.6 million outstanding under a standby letters of credit arrangement secured by a cash collateral bank account.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2023 | May 12, 2023 | Showing above |
| 2022 | May 9, 2022 | |
| 2021 | May 7, 2021 | |
| 2020 | May 4, 2020 | |
| 2019 | May 6, 2019 | |
| 2018 | May 11, 2018 | |
| 2017 | May 12, 2017 | |
| 2016 | May 11, 2016 | |
About Debt Disclosures
Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.
Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.