Citing its recent IPO and improved operating performance, the ratings agency now tags ASO’s corporate debt to B2 from B3 and its senior secured term loan to B3 from Caa1. Moody’s said the IPO suggests a more conservative balance sheet stance going forward with less risk of debt-financed dividends that will keep debt/EBITDA below 5X even when consumer spending patterns return to normal next year following the surge this year in demand for firearms, outdoor and other sporting goods.

ASO was feeling pretty confident that it was on the right track even before the tailwind of the pandemic, noting that its ... Log in to view full article.