Bass Pro Parent Downgraded on Weak Boat Business
S&P Global cut its issuer credit rating on Great Outdoors Group, parent company of Bass Pro and Cabela’s, to BB- from BB, citing soft consumer spending and particularly weak operating performance in the company’s Marine segment. The ratings agency also gave the same downgrade to Great Outdoors’ first-lien term loan, noting that it expects leverage to remain around 4.5x for the remainder of 2024, then improve to the low-4x range ... Log in to view full article.
