Moody’s upgrades BJ’s Wholesale

Moody’s Investors Service said it upgraded all its ratings for BJ’s Wholesale Club Inc., including the corporate family rating to Ba2 from Ba3.

“Today’s upgrade recognizes the continuing improvement in BJ’s quantitative profile resulting from continued strong operating results as well as the recent reductions in debt of over $300 million. As a result key metrics such as debt/EBITDA and EBIT/interest are benefitting, with debt/EBITDA now below four times and EBIT/interest of around 2.4 times,” said Charlie O’Shea, a Moody’s vice president, in a press release.

The outlook is stable.

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