Crocs Scores Upgrade from S&P Global
The clogmaker and Heydude parent’s issuer credit rating was elevated to BB from BB- based on its improving EBITDA and debt reduction efforts, which the ratings agency expects will reduce its adjusted leverage to the low-1x area in 2024. The company ended 2023 with debt-to- EBITDA of about 1.7x, down from 2.6x a year before, as the bottom line has grown and earnings have been used to pay down the debt incurred ... Log in to view full article.
