Sysco Secures Major Bond Offering Amid Stock Surge and Debt Concerns
Sysco Corporation has announced a major bond offering of $1.25 billion, split into two debt issuances maturing in 2031 and 2036, which it plans to use to repay upcoming debt obligations. This move comes as the company's stock reached a new 52-week high, yet it faces mixed reactions from credit rating agencies, with S&P affirming a 'BBB' rating while Moody's downgraded it to Baa2 due to leverage concerns. Sysco's debt-to-EBITDA ratio currently exceeds its target, leading to close monitoring by analysts despite solid operational performance and strategic growth initiatives.
https://www.ad-hoc-news.de/boerse/news/ueberblick/sysco-secures-major-bond-offering-amid-stock-surge-and-debt-concerns/68575580