StoneMor Partners entered into an amendment to its revolving credit agreement dated August 4, 2016 with Capital One as administrative agent.

The amendment extended the deadline by which StoneMor is required to deliver to its lenders the audited financial statements for the year ended December 31, 2016 to July 15, 2017, with the unaudited financial statements for the quarter ending March 31, 2017 now due no later than 45 days after the date on which StoneMor delivers the 2016 financial statements.

The amendment also provides for an increase in StoneMor’s maximum consolidated leverage ratio from 4.00:1.00 to 4.25:1.00 through the period ending September 30, 2017, after which the maximum consolidated leverage ratio reverts to 4.00:1.00, subject to StoneMor’s right to increase that ratio to a maximum of 4.25:1.00 in connection with the consummation of certain acquisitions.

According to a related 8-K, Capital One was administrative agent, Citizens Bank served as syndication agent, and TD Bank and Raymond James Bank served as co-documentation agents for the original credit agreement.

Larry Miller, president and CEO of StoneMor, said, “We are grateful to our lenders for their support as we work to address the issues that caused us to delay the filing of our financial statements. We are correcting these legacy control issues and this amendment provides us with the needed time to get this accomplished properly. The financial flexibility provided by the amended consolidated leverage ratio will also greatly assist us as we continue to execute our growth strategy.”

StoneMor Partners, headquartered in Trevose, PA, is an owner and operator of cemeteries and funeral homes.