topstockalerts
Sep 24, 11:41 PM
Moody’s Ratings upgraded StubHub’s Corporate Family Rating to B2 from B3, citing progress in deleveraging the live-event ticketing platform. The agency also raised the company’s Probability of Default Rating and senior secured bank facility ratings to B2, maintaining a stable outlook.
The upgrade reflects StubHub’s aggressive debt-reduction strategy and expected recovery in operating margins. Moody’s highlighted
$350 million of voluntary debt repayments funded by excess cash flow since late 2025, followed by another
$100 million payment after the second quarter of 2026.
StubHub’s Moody’s-adjusted leverage stood at 8.5x at the end of Q2, but the agency expects it to fall to 5.7x by year-end 2026, supported by mid- to high-single-digit gross merchandise sales growth and margin expansion. Moody’s expects annual free cash flow of
$280 million-
$300 million, net of seller payments, while the company has a fully available
$565 million senior secured revolving credit facility due in 2030.
$STUB
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