Company: JBI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001839839-25-000132
Chunk: 95

Company: Janus International Group, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 95
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 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 March 29, 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 Our credit ratings may be revised or withdrawn at any time by the rating agencies, and each rating should be evaluated independently of any other rating.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no assurance that a rating will remain in effect for any given period of time or that a rating will not be lowered, or withdrawn entirely, by a rating agency if, in its judgment, circumstances so warrant.

Contractual Obligations

Summarized below are our contractual obligations as of March 29, 2025 and their expected impact on our liquidity and cash flows in future periods (dollar amounts in millions):

Total20252026-20272028-2029ThereafterDebt obligations$557.0 $6.0 $12.0 $12.0 $527.0 Finance lease obligations3.8 1.3 2.1 0.4 — Unconditional purchase obligations (1) 20.0 16.0 3.9 0.1 — Operating lease obligations60.5 5.1 12.8 11.1 31.5 Total$641.3 $28.4 $30.8 $23.6 $558.5 

(1)Unconditional purchase obligations consist of supply contracts that relate to fixed price agreements as well as multi-year software contracts. 

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 Note 9, Long-Term Debt, to our Unaudited Condensed Consolidated Financial Statements in this Form 10-Q for a further discussion).

Finance lease obligations include future payments related to finance leases. Operating lease obligations consist of