Company: JBI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001839839-25-000150
Chunk: 108

Company: Janus International Group, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 7
Chunk 108
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 and various acquisition related activities.  

(3)Impairment consists of the write down of the DBCI Tradename intangible asset.

(4)Adjustment for loss on extinguishment and modification of debt regarding the write off of unamortized fees and third-party fees as a result of the debt modification completed in April 2024. 

*Janus uses measures of performance that are not required by or presented in accordance with GAAP in the United States. Non-GAAP financial performance measures are used to supplement the financial information presented on a GAAP basis. These non-GAAP financial measures should not be considered in isolation or as a substitute for the relevant GAAP measures and should be read in conjunction with information presented on a GAAP basis.

Credit Ratings

Costs of borrowing and their respective ability to access the capital markets are affected not only by market conditions but also by the short-term and long-term credit ratings assigned to our respective debt by the major credit rating agencies. 

In determining our credit ratings, the rating agencies consider a number of quantitative factors, including but not limited to, debt to total capitalization, operating cash flow relative to outstanding debt, and operating cash flow coverage of interest. In addition, the rating agencies consider qualitative factors such as consistency of our earnings over time and the quality of our management and business strategy.

Our debt is rated by two rating agencies: Standard & Poor’s Corporation (S&P) and Moody’s Investors Service (Moody’s). As of September 27, 2025, our outlook and current debt ratings are as follows:

S&PMoody’sCorporateB+Ba3Senior secured long-term debt(1)BB-Ba3Outlook PositiveStable

(1)A credit rating is not a recommendation to buy, sell or hold securities. Our credit ratings may be revised or withdrawn at any time by the rating agencies, and each rating should be evaluated independently of any other rating. There can be no assurance that a rating will remain in effect for any given period of time or that a rating will not be lowered, or withdrawn entirely, by a rating agency if, in its judgment, circumstances so warrant.

On October 17, 2025, subsequent to the three months ended September 27, 2025, S&P upgraded the Company’s credit rating from ‘B+’ to

‘BB-’ and upgraded the Senior secured long-term debt to 'BB' from 'BB-’  with a stable outlook based on the Company’s low net leverage.