I=6, December 12, 2025
S&P Global raised Bumble’s issuer credit rating to ‘B+’ from ‘B’ to reflect the company’s substantial debt reduction
- S&P Global raised Bumble’s issuer credit rating to ‘B+’ from ‘B’ after Bumble settled its TRA liabilities of $419 million for $186 million of cash and voluntarily paid $25 million of its outstanding term loan, taking its pro forma leverage to 2.0x from 3.4x as of Sept. 30, 2025.
- Its base-case scenario assumes Bumble’s leverage will increase to about 3.0x in 2026 and 2027 due to substantial EBITDA declines, while generating about $130 million of FOCF over the next 12 months .
- It forecasts Bumble’s revenue will decline by around 10% and 13% in 2025 and 2026, respectively, before returning to growth in 2027.