Tear Sheet: Cooper's Hawk Intermediate Holding LLC

We continue to view the company's upcoming debt maturities, including its $35 million revolving credit facility ($6 million drawn as of the third quarter ended Oct. 2, 2024) and $307 million term loan B facility, both of which will become current in the second half of 2025, as a key credit factor. We would view Cooper's successful extension or refinancing of its capital structure as mitigating its near-term refinancing risk. We also believe addressing its maturities would provide the company with additional long-term financial flexibility, leading us to view its capital structure as more sustainable. During the third quarter, Cooper's increased its overall sales by 11.1% on a 4.6% year-over-year rise in its comparable store sales, the latter of which

...March 20, 2025 The positive outlook reflects the potential that S&P Global Ratings will upgrade Cooper's if it successfully addresses its upcoming 2026 debt maturities while maintaining steady credit metrics. We continue to view the company's upcoming debt maturities, including its $35 million revolving credit facility ($6 million drawn as of the third quarter ended Oct. 2, 2024) and $307 million term loan B facility, both of which will become current in the second half of 2025, as a key credit factor. We would view Cooper's successful extension or refinancing of its capital structure as mitigating its near-term refinancing risk. We also believe addressing its maturities would provide the company with additional long-term financial flexibility, leading us to view its capital structure as more sustainable. We expect the company will expand both its wine memberships and restaurant locations by roughly 9% and modestly raise its menu prices to offset an approximately 2%-4% increase in its commodity...

Full Report