Company: BLCO
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001860742-25-000008
Chunk: 110

Company: Bausch & Lomb Corp
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 2
Chunk 110
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 assigned to Bausch + Lomb’s Corporate Rating of “B1”. On April 17, 2025, Fitch upgraded 

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its ratings assigned to Bausch + Lomb’s Corporate Rating from “B-” to “B” and its Senior Secured Rating from “BB-” to “BB.” These ratings changes and outlook update reflect a similar upgrade to the ratings of and similar revision to the outlook of our parent company, BHC. Any downgrade in our corporate credit ratings or senior secured ratings may increase our cost of borrowing and may negatively impact our ability to raise additional debt capital.Upon full Separation, we expect to refinance the Bausch + Lomb debt, and to transition to a longer-term capital structure.OFF-BALANCE SHEET ARRANGEMENTS AND CONTRACTUAL OBLIGATIONS We have no off-balance sheet arrangements that have a material current effect or that are reasonably likely to have a material future effect on our results of operations, financial condition, capital expenditures, liquidity, or capital resources.Other Future Cash RequirementsOur other future cash requirements relate to working capital, capital expenditures, business development transactions (contingent consideration), restructuring and integration, benefit obligations and litigation settlements. In addition, we may use cash to enter into licensing arrangements and/or to make strategic acquisitions. We regularly consider further acquisition opportunities, some of which could be sizable.In addition to our working capital requirements, as of the date of this filing, April 30, 2025, we expect our primary cash requirements for the period April 1, 2025 through December 31, 2025 to include:•Debt repayments and interest—We expect to make interest payments of approximately $320 million and mandatory debt amortization payments of $30 million for the period April 1, 2025 through December 31, 2025 under our Senior Secured Credit Facilities and may elect to make additional principal payments under certain circumstances. Further, in the ordinary course of business, we may borrow and repay amounts under our Revolving Credit Facility to meet business needs, see Item 1A. Risk Factors—"Our indebtedness could adversely affect our business and our ability to meet our obligations” included in our Annual Report;•Capital expenditures—We expect to make payments of approximately $170 million for property, plant and equipment for the period April 1, 2025 through December 31, 2025.Cost Savings ProgramsThe Company has been launching certain initiatives that may result in certain changes to,