"Today's review action recognizes Best Buy's consistent operating performance over the past few years and strong credit metrics relative to retail peers" stated Moody's Vice President Charlie O'Shea. Best Buy's Baa1 rating reflects the company's strong quantitative credit profile, with debt/EBITDA of around 1.0 times, EBITA/interest of over 10 times, and RCF/net debt over 80%, and the company's conservative financial policy, especially its historical pattern of limiting share repurchases to preserve its credit metrics. Additional rating support emanates from Best Buy's continued progress towards omni-channel, with an online business that leads brick-and-mortar on many fronts. Read More...
“Today’s review action recognizes Best Buy’s consistent operating performance over the past few years and strong credit metrics relative to retail peers” stated Moody’s Vice President Charlie O’Shea. Best Buy’s Baa1 rating reflects the company’s strong quantitative credit profile, with debt/EBITDA of around 1.0 times, EBITA/interest of over 10 times, and RCF/net debt over 80%, and the company’s conservative financial policy, especially its historical pattern of limiting share repurchases to preserve its credit metrics. Additional rating support emanates from Best Buy’s continued progress towards omni-channel, with an online business that leads brick-and-mortar on many fronts.
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