Hanesbrands’ Higher Leverage Leads to Credit Rating Cut
The Champion parent’s issuer credit rating was lowered to B+ from BB- by S&P Global, after its leverage increased to 6.7x as of July 1, 2023, up from 4.2x last year. Lower than expected revenues and profits are expected to keep leverage above 5.0s for the next 12 months, the ratings agency said. S&P’s rating on HBI’s $900 million senior secured term loan was lowered to BB from BB+, and ... Log in to view full article.
