Franklin Energy lenders OK extending revolver maturity by 18 months

By Wendy Van Sickle

Columbus, Ohio, March 5 – Franklin Energy Group said the lenders of its revolving credit facility have unanimously approved an 18-month extension to the facility’s maturity to February 2026, according to a news release.

In connection with a previously announced preferred equity investment and the extension of the revolver, the company received an upgrade to its credit ratings from S&P Global Ratings and Moody’s Investors Service. S&P raised its issuer credit rating and rating on the company’s first-lien term loan to B- and changed its outlook on the company to stable. Moody’s similarly raised its corporate family rating to B3, affirmed its B3 rating on the company’s first-lien term loan, and changed its outlook on the company to stable, according to the release.

Franklin Energy, based in Port Washington, Wis., delivers end-to-end sustainable energy management solutions through a portfolio of intelligent products and services.

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