Standard and Poor’s raised the outdoor retailer’s issuer credit rating to B+ from B, citing its positive results for the trailing 12 months through Sep., including a more than 9% sales increase a 34% jump in adjusted EBITDA, and strong cash flow generation. Bass Pro used some of the cash windfall to pay down the outstanding balance of its ABL revolver, and also redeemed the remaining $284 million of preferred shares that the ratings agency considered to be equivalent to debt. The end result will be adjusted debt-to-EBITDA ending 2020 in the mid-4x area, S&P projects, well ... Log in to view full article.