Jabil Inc. -- Moody's assigns Baa3 to Jabil's new note offering
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Rating Action: Moody’s assigns Baa3 to Jabil’s new note offeringGlobal Credit Research – 07 Apr 2021New York, April 07, 2021 — Moody’s Investors Service, (“Moody’s”) assigned a Baa3 rating to the new senior unsecured notes of Jabil Inc. (Jabil). All other ratings and the stable outlook are unchanged.Assignments:..Issuer: Jabil Inc…..Senior Unsecured Regular Bond/Debenture , Assigned Baa3RATINGS RATIONALEThe proposed notes offering is largely leverage neutral given most of the net proceeds will be used to repay outstanding term loans. At closing, Moody’s estimates debt to EBITDA (including Moody’s standard adjustments) will be 2.3x reflecting mid-teen percentage EBITDA growth since fiscal year end (FYE) August 2020 when adjusted debt to EBITDA was 2.6x.


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