Company: TRTN-PA
Filing Date: 2025-05-02
Form Type: 6-K
Source: 0001660734-25-000016
Chunk: 34

Company: Triton International Ltd
Filing Date: 2025-05-02
Form: 6-K
Chunk 34
---
 a waiver from the creditors. As of March 31, 2025, we were in compliance with all such covenants.

#### Credit Ratings
Our investment-grade corporate and long-term debt credit ratings enable us to lower our cost of funds and broaden our access to attractively priced capital. While a ratings downgrade, on its own, would not result in a default under any of our debt agreements, it could adversely affect our ability to issue debt and obtain new financings, or renew existing financings, and it would increase the cost of our financings. Additionally, under the terms of our senior notes and certain series of our preference shares, certain ratings downgrades following the occurrence of a change of control, as more fully described in the relevant agreements governing those instruments, could give holders of those instruments certain redemption or conversion rights. The Company's long-term debt and corporate rating of BBB- from Fitch Ratings and BBB from S&P Global Ratings remained unchanged in the first quarter of 2025.

#### Cash Flow
The following table sets forth certain cash flow information for the periods presented (in thousands):

|                                                     |     | Three Months Ended March 31, |     2025 |     |   |     2024 |     |   | Variance |
|:----------------------------------------------------|:----|:-----------------------------|---------:|:----|:--|---------:|:----|:--|---------:|
| Net cash provided by (used in) operating activities |     | $                            |  287,698 |     | $ |  257,517 |     | $ |   30,181 |
| Net cash provided by (used in) investing activities |     | $                            |   47,631 |     | $ |   15,216 |     | $ |   32,415 |
| Net cash provided by (used in) financing activities |     | $                            | -398,362 |     | $ | -320,578 |     | $ |  -77,784 |

#### Operating Activities
Net cash provided by operating activities increased by $30.2 million to $287.7 million for the three months ended March 31, 2025, compared to $257.5 million in the same period in 2024. The increase was primarily due to higher profitability, positive changes in accounts receivable due to timing of cash collections and an increase in cash collections on finance leases primarily due to a buyout of containers under a finance lease in the