Wahoo’s credit rating lowered as it misses a payment

Wahoo Fitness, maker of the awesome Wahoo Bolt 2 bike computer and Kickr smart trainers, has recently found itself facing financial headwinds due to a credit rating downgrade. The company’s sales have reportedly declined in recent months, primarily due to the impacts of the COVID-19 pandemic. As a result, its credit rating was lowered, raising concerns about its ability to maintain access to funding.

However, Wahoo has now announced that it has reached a special agreement with its lenders to help ensure continued access to funding despite the credit downgrade. The company stated that it has successfully negotiated the agreement to provide more financial flexibility during these challenging times.

This move is seen as a positive one for the company, which has been experiencing difficulties due to the pandemic-induced economic downturn. The agreement with lenders will enable Wahoo to weather the financial storm and gives the company room to manoeuvre as it looks to build resilience and adaptability in the face of ongoing uncertainty.

In the current economic climate, companies in various industries have seen their credit ratings downgraded, as the pandemic continues to disrupt global markets. However, it is heartening to see that Wahoo Fitness has been able to secure an agreement with its lenders to help navigate these choppy waters.

Expect more news from our court reporter, dcrainmaker, on the rulings from the Wahoo//Zwift (Zwift Hub) case which I believe closed yesterday.

via road.cc