The ratings agency said that the upgrade to B- from CCC+ was justified by improving results after pandemic effects on sports receded, at the Bain Capital-owned parent of BSN Sports and Varsity Spirit. Sales increased 55% in the Mar. quarter, S&P said, driven largely by a substantial recovery at BSN to above 2019 revenue levels. Varsity Spirit has also returned to its usual seasonality, while in 2021 cheerleading events were pushed into Q2 from Q1, but 2022 ... Log in to view full article.