Credit Rating
| Rating Agency | Long-term Issuer Rating | Outlook |
|---|---|---|
| Standard & Poor’s | BB | Stable |
| Moody’s | Ba3 | Stable |
| Fitch | BB | Stable |
The following senior notes have received “BB” rating by Standard & Poor’s, “B1” rating by Moody’s and “BB” by Fitch:
$300MM due 2028
$500MM due 2030
$400MM due 2031
Outstanding Financial Debt – as of February 2, 2022
Senior Notes
| Instrument | Issue date | Maturity | Volume in millions | Coupon | CUSIP |
|---|---|---|---|---|---|
| Senior Notes | 12/07/2017 | 02/01/2028 | $300 | 5.125% | 153527AM8 |
| Senior Notes | 10/01/2020 | 10/15/2030 | $500 | 4.125% | 153527AN6 |
| Senior Notes | 04/16/2021 | 04/30/2031 | $400 | 4.125% | 153527AP1 |
Revolving Credit Facility
In addition, our Senior Secured Asset-Based Revolving Credit Facility provides up to $750MM.
Credit Profile
We have financed our growth through a combination of internally generated funds, bank borrowings, supplier credit, and sales of equity and debt securities to the public.
The principal uses of cash are focused on:
- Working capital requirements
- Capital expenditures related to property, plant, and equipment, as well as investments into our enterprise-wide information technology platforms
- Acquiring businesses
- Repayment of debt
- Share repurchases to return excess cash to shareholders
