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Moody's Investors Services, the notable credit rating agency,
Planet Fitness' B1 Corporate Family Rating (CFR) and B1 rating on its Secured Bank Credit Facilities remain unchanged.
Moody's justified its outlook based on expectations for Planet Fitness to see strong EBITDA and cash flow from operations growth. Of particular note, the company's free cash flow-to-debt rose above 8 percent. Moreover, Moody's analysis suggests that Planet Fitness will generate about $85 million in free cash flow for the full year 2017, which will grow to $100 million in 2018."Planet Fitness is poised to experience another year of strong earnings growth as its franchise based business model allows it to have new club openings that outpace the market which we believe will drive further market share gains and strengthen credit metrics and cash flow," stated Maggie Taylor, a senior vice president with Moody's.
Related Links: Foursquare Makes Another Data-Based Prediction—And It Thinks It Knows The Winner In Gym Stock Earnings Why The Selloff In Planet Fitness Is Disconnected From Strong Fundamentals _______ Image Credit: By Anthony92931 (Own work) [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia CommonsLoading...
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Posted In: Analyst ColorLong IdeasNewsUpgradesAnalyst RatingsTrading Ideascredit ratingGymsMaggie TaylorMoodysPlanet FitnessRating Agency
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