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Meridian Industrial Holdings · MRDN · Sample data

Meridian Industrial HoldingsMRDNEvidence graphSample data

$3.9BTotal debt

2.1×Net leverage · covenant max 3.50×

$2.2BTotal liquidity

Debt maturity schedule $ billions · select a year

Instruments with a stated maturity: $3.2B of $3.9B total debt. 2030 is the term loan A and the drawn revolver.

Source · Debt disclosure

Senior notes due 2031: $1.2 billion at 5.40%

$1,200 million aggregate principal amount of 5.40% Senior Notes due 2031✓ Quote matches the document word for word

Every figure links to the passage it came fromOpen the sample report →

Covenants and headroom tested every quarter

Net leverage2.1× · at most 3.50×

Headroom 1.4 turns: EBITDA could fall about 40% with debt unchanged before this test is breached.

Interest coverage7.8× · at least 3.00×

EBITDA of $1.48 billion covers interest of $0.19 billion 7.8 times.

The bar is the reported level; the mark is the limit in the credit agreement. Headroom is calculated from reported figures, not a covenant certificate.

Source · Financing agreement

Maximum net leverage covenant

Consolidated Net Leverage Ratio shall not exceed 3.50 to 1.00✓ Meridian states it complied with all covenants at December 31, 2025

Limits quoted from the credit agreementOpen the sample report →

After the annual report dated · kept apart from FY2025 figures

Mar 2026
New credit agreement
Replaces the 2021 facility.
Financing agreement
Sep 1, 2026
New chief financial officer
Maren Okafor appointed, effective September 1, 2026.
Leadership change
Expected Q1 2027
Acquisition of Lattice Sensors
Agreed for $310 million in cash; expected to close in the first quarter of 2027.
Acquisition agreement
Latest report
Prior-year margin restated
Operating margin recast from 11.9% to 11.6%; both figures are kept with their documents.
Accounting policies

Each development dated and sourcedOpen the sample report →

Open gap · Revolver interest margin

The credit agreement sets the margin by a pricing grid that is not in the document text.

Open gap · Credit ratings

Meridian says two agencies rate it, but the document does not give the ratings or outlooks.

Open gap · Solano Drives financials

Solano Drives is private, so no revenue, debt or ownership detail is public.

Open gap · Unlisted subsidiaries

The subsidiary list says some smaller subsidiaries are omitted, so the group list may be incomplete.

Nothing is estimated to fill a gap.

Gaps stay listed until a document answers themOpen the sample report →

Why BINarrator.ai

From filing review to defensible credit intelligence.

You already have the documents, spreadsheets, research platforms and AI assistants. What takes the time is assembling, reconciling and checking. That is the work BINarrator.ai does, with the evidence kept beside every figure.

Before~~Search multiple filings manually~~

Consolidated company intelligence

Debt, liquidity, covenants, ownership and developments in one report.

Before~~Extract figures and reconcile periods~~

Defined financial metrics with visible inputs

Every calculated figure shows its formula and the reported inputs behind it.

Before~~Trace conclusions back to documents~~

Source-linked findings

Each fact carries the passage it came from, checked word for word.

Before~~Check whether events changed after year-end~~

Separately dated material developments

Later disclosures are dated and kept apart from the annual figures.

Before~~Review inconsistent executive and credit briefs~~

Cross-report consistency checking

The executive and credit briefs are checked against each other and against the report.

Before~~Investigate missing information~~

Explicit evidence-gap tracking

Anything not found is listed as a gap, never estimated or left out.

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Six questions every analyst asks, answered in one place.

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Debt, covenants, maturities and liquidity for a borrower in one place, each figure traced to its source.

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Watch the names you hold. New financings, debt changes and events arrive dated, with an alert.

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See who a company depends on, who depends on it, and how much strain its debt carries before you sign.

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Ownership, financing and dependencies of a target, ready to hand over as an executive brief and a credit brief.

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Set and review credit limits and payment terms for customers, distributors and partners on evidence: their debt, liquidity, dependencies and dated developments in one view.

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Re-perform and document the work: each figure links to the passage it came from, calculations show their inputs and gaps are listed, ready for working papers and independent review.

Reports

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SampleFictional company

Meridian Industrial Holdings

A made-up company that shows every kind of fact a report holds: subsidiaries, stakes, credit facilities, covenants, guarantees, customers, suppliers, events, restatements, 38 metrics and the gaps.

0Documents · sample

0Metrics · sourced

0Gaps · open

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Financial figures

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The executive brief and the credit brief must state the same figures, dates and statuses.

Source completeness

Every report and press release since the annual report must be read, and what they disclose must appear.

What stops a wrong number from reaching you

A serious finding blocks publication until it is fixed
Every correction is re-checked against the source
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Always current

What changed since the annual report, dated and kept apart.

Annual figures stay exactly as reported. Anything that happened later, from a new financing or the debt at the latest quarter to a buyback, a stated spending plan or a leadership change, appears as a dated development with its source and its status.

Annual figuresDecember 31, 2025

Revenue: $8.4B
Total debt: $3.9B
Net leverage: 2.1×
Liquidity: $2.2B

As reported. Nothing that happened later is blended into these numbers.

Dated developmentsafter the year-end

March 2026
New credit agreement
Replaces the 2021 facility.
Signed
September 1, 2026
Maren Okafor becomes chief financial officer
Appointment effective on this date.
Effective
Q1 2027, expected
Lattice Sensors acquisition, $310 million in cash
Agreed; shown as pending until it closes.
Not yet closed

Sample company. Each development keeps its date, its source and whether it was announced, signed or completed.

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Compare the reports you can open across an industry, on the same definitions, with every value still traced to its source.

Peers on one definition. Margins, leverage, coverage and liquidity worked out the same way for every company.
Funding calendar. When each company’s debt falls due, side by side.
Signals. Who moved, by how much, and the figures behind it.
Missing stays missing. A value a company does not report is shown as missing, with the reason, never estimated.
Export with sources. Download the table you are looking at, sources included.

On selected plans

Funding calendarIllustration

Circle size: debt falling due that year. Amber: due within twelve months.

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