Amer Sports credit profile will significantly improve post-IPO, the ratings agency believes, from a combination of debt repayment with the proceeds and a concurrent refinancing of other loans. About €1.3 billion will go to prepay the term loan A due March 2025 from AS Holding, which isn’t included in Moody’s leverage calculations, with the rest towards paying down Amer’s revolving credit facility. After the transaction, Amer’s adjusted debt to EBITDA ratio will drop under 4.0x, at which point ... Log in to view full article.