...October 27, 2020 - U.S.-based Franchise Group Inc. (FRG) plans to issue $650 million in senior secured notes to refinance its existing debt. - The company operates and franchises multiple retail and services concepts, including value-focused furniture retailer American Freight, rent-to-own furniture provider Buddy's, nutritional supplement store The Vitamin Shoppe, and tax services provider Liberty Tax. - We are assigning our 'B+' issuer credit rating to Franchise Group Inc. - At the same time, we are assigning our 'B+' issue-level rating and '4' recovery rating to the company's proposed senior secured notes. - The stable outlook reflects our expectation for improving EBITDA and cash flow generation as the company benefits from cost synergies from its recent acquisitions. NEW YORK (S&P Global Ratings) Oct. 27, 2020--S&P Global Ratings today took the rating actions listed above. The 'B+' rating reflects our assessment of the company's limited track record of operating multiple business segments...
