Company: JBI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001839839-25-000141
Chunk: 107

Company: Janus International Group, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 107
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 on a GAAP basis.

46

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 June 28, 2025, our outlook and current debt ratings are as follows:

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

(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 Our credit ratings may be revised or withdrawn at any time by the rating agencies, and each rating should be evaluated independently of any other rating.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no assurance that a rating will remain in effect for any given period of time or that a rating will not be lowered, or withdrawn entirely, by a rating agency if, in its judgment, circumstances so warrant.

Contractual Obligations

Summarized below are our contractual obligations as of June 28, 2025 and their expected impact on our liquidity and cash flows in future periods (dollar amounts in millions):

Total20252026-20272028-2029ThereafterDebt obligations$555.5 $4.5 $12.0 $12.0 $527.0 Finance lease obligations3.6 0.9 2.2 0.5 — Unconditional purchase obligations11.9 7.9 3.9 0.1 — Operating lease obligations60.3 3.5 13.3 11.6 31.9 Total$631.3 $16.8 $31.4 $24.2 $558.9 

Debt obligations are presented for the principal balance and include the First Lien Term Loan payments. The First Lien Term Loan has a maturity date of August 3, 2030. (See