Ryman Healthcare Adjusts Debt Covenants Amid Prudent Financial Management

Ryman Healthcare (NZX: RYM), a prominent retirement living and aged care operator, has taken prudent steps to strengthen its financial position by amending its debt covenants and extending a key banking facility. The company’s interest coverage ratio (ICR) covenant, which measures its ability to meet financial obligations, has been adjusted for testing periods through March 2026.

The ICR has been lowered to 1.50x for the 12 months ending in September 2024 and March 2025, down from 1.75x. Additionally, the ICR covenant for September 2025 was reduced from 2x to 1.75x. These changes reflect the company’s focus on maintaining stability as it navigates financial challenges. Ryman executive chair Dean Hamilton emphasized the company’s prudence in managing its obligations effectively, aiming for long-term growth.

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