Aug. 21 at 8:14 PM
Moody’s Ratings changed ARKO Corp.’s outlook to stable from negative on Friday while affirming its B2 corporate family rating, B2-PD probability of default rating and B3 rating on senior unsecured notes. The speculative-grade liquidity rating remains SGL-1.
The outlook upgrade reflects improving credit metrics driven by debt reduction and stronger earnings in the first half of 2026. ARKO used
$207 million in net proceeds from the February IPO of its subsidiary ARKO Petroleum to repay its revolving credit facility and repurchased
$37.9 million of senior unsecured notes during Q2 for about
$35.1 million.
ARKO Petroleum is also acquiring U.S. Petroleum Partners for
$205 million in cash plus inventory value, with the deal expected to close later this year and contribute about
$30 million in EBITDA. Pro forma for the transactions, Moody’s adjusted debt/EBITDA improved to about 5.4x in the 12 months through June, from 5.9x at year-end 2025.
$ARKO