The ratings agency assigned a BB- issuer credit rating to ASO, and raised its issue-level ratings to BB-, noting that it’s withdrawing the ratings on the public company’s subsidiary New Academy Holding Co. LLC. The outlook is stable, and S&P expects the retailer to be able to sustain adjusted leverage in the high-1x to low-2x range, even as operating results normalize after pandemic-driven highs. Sales and EBITDA have both been better than expected, S&P said, and it now sees ASO’s 2021 sales growth approaching 20%, with adjusted ... Log in to view full article.