NYSE:MMSProfessional Services
Maximus Expands Term B Loans To Fund Buybacks And Reshape Balance Sheet
Maximus (NYSE:MMS) amended its credit agreement to add $325 million to its existing term B loans.
The company plans to use the new debt for share repurchases, working capital, and repayment of existing debt.
Maximus, trading at $61.93, is taking on additional term B loan financing that directly affects how it allocates capital between shareholders and creditors. The move comes after the stock declined 28.4% year to date and 13.1% over the past year, with a 22.0% decline over three years and...