Moody’s Upgrades Varsity Brands
The ratings agency upgraded the BSN Sports and Varsity Spirit parent’s corporate family rating and senior secured first lien term loan to B2 from B3, with a stable outlook. Moody’s expects the company’s adjusted debt-to-EBITDA to decline to below 5.5x by the end of the year from 6.2x as of Mar. Varsity should generate mid-single-digit revenue growth over ... Log in to view full article.
