S&P affirms Ollie’s Bargain Outlet

Standard & Poor’s said it affirmed its B issue-level rating on Ollie’s Bargain Outlet Holdings Inc.’s existing term loan due 2019. The 4 recovery rating is unchanged and indicates an expectation for average recovery in the event of a payment default. The recovery expectations are in the lower half of the 30% to 50% range.

At the same time, S&P affirmed the B corporate credit rating on Ollie’s Bargain Outlet Holdings. The outlook remains stable.

“The rating affirmation reflects Ollie’s continued strong profitability gains and geographic footprint expansion offsetting the continued aggressive shareholder-friendly initiatives the company has executed almost annually under its private equity owner since 2012,” said S&P credit analyst Diya Iyer in a news release.

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