BJ’s Wholesale Club Receives First-Time Investment Grade Rating from Fitch

BJ’s Wholesale Club Receives First-Time Investment Grade Rating from Fitch

BJ’s Wholesale Club (NYSE: BJ) today announced that Fitch Ratings has assigned a first-time Long Term Issuer Default Rating of ‘BBB’ to the company. Fitch has also assigned BBB+ ratings to the company’s ABL revolving credit facility and secured term loan due 2029. The ratings carry a Stable Outlook.

"Fitch’s investment-grade ratings reflect BJ’s continued growth and commitment to financial discipline,” said Laura Felice, Chief Financial Officer, BJ’s Wholesale Club. “We are proud of the progress we've made in growing our business and strengthening our balance sheet as we deliver unbeatable value and convenience to our more than 8 million members in 22 states."

Fitch’s rating reflects BJ’s strong positioning in the growing U.S. warehouse club sector, a loyal membership with 90% tenured renewal rate and consistent growth in comparable store sales and EBITDA. The rating also reflects the company’s positive cash generation and modest EBITDAR leverage.

BJ’s Wholesale Club Holdings, Inc.