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How to trade growth stocks successfully? The prudent investor will make an effort to buy a high-quality stock breaking out on a follow-through day.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Bass Pro Group, L.L.C and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Moody's Investors Service ("Moody's) affirmed Bass Pro Group, L.L.C's Ba3 Corporate Family Rating, Ba3-PD Probability of Default rating, and B1 senior secured rating. The proceeds of the proposed add-on term loan, drawings on the company's asset back revolver ($650 million) and cash on hand will be used to redeem approximately 64% of preferred equity ($1.3billion) issued by Bass Pro's parent and make a distribution to shareholders. The affirmation reflects improving margins (pro-forma for the 2017 acquisition of Cabela's) due to synergy realization ahead of plan and higher than expected debt repayment since the acquisition closed resulting in better than expected improvement in pro-forma credit metrics.