Moody’s upgrades Petco as operational turnaround fuels voluntary debt reduction

Investing.com -- Moody’s Ratings upgraded Petco Health and Wellness Company's (NASDAQ:WOOF) corporate family rating to B2 from B3, citing the pet retailer’s operational turnaround and ongoing balance sheet deleveraging. The rating agency also raised its ratings on Petco’s probability of default to B2-PD, as well as its senior secured first-lien term loan B and senior secured first-lien notes, while maintaining a stable outlook and preserving the company's top-tier SGL-1 liquidity score.