Academy Sports + Outdoors Announces $99 Million Paydown and Refinancing of its Term Loan and Upgrade to Credit Rating
Additionally, S&P Global recently raised its issuer-credit rating to B+ from B based on improved credit metrics and financial policy, strong business trends and the recent reduction of its largest stockholder's ownership position to below 40%. A copy of the report can be found on Academy's investor relations website, http://investors.academy.com.
"I am pleased to announce another action taken by the Company to strengthen our balance sheet and further improve our financial standing," said
Academy is a leading full-line sporting goods and outdoor recreation retailer in
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Academy's current expectations and are not guarantees of future performance. You can identify these forward-looking statements by the use of words such as "outlook," "guidance," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. The forward-looking statements are subject to various risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. Actual results may differ materially from these expectations due to changes in global, regional or local economic, business, competitive, market, regulatory and other factors, many of which are beyond Academy's control. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in Academy's filings with the
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