BroadStreet Partners℠ Refinances Its Bank Facility and Receives Moody’s and S&P Ratings
We frequently describe how BroadStreet℠ offers a unique co-ownership approach that helps our independent insurance agency partners achieve their strategic growth plans. Over the last 5 years our partners’ compound annualized revenue growth rate has been 32%, which is the result of both successful organic growth and growth via acquisition.
One of the most important advantages of the BroadStreet℠ approach is that our partners have access to a stable and reliable source of capital that they can use to fund acquisitions in their local and regional markets. This funding source primarily stems from our $510 million bank facility.
On November 8, 2016, BroadStreet℠ took advantage of a favorable credit environment to refinance our facility in order to enhance our efficiency and flexibility as a source of capital for our partners.
During the refinance process, BroadStreet℠ received a rating from Moody’s (B2 Rating, with a Stable outlook) and from S&P (B+ Rating, also with a stable outlook). These ratings are higher than many of our peers which validates our conservative approach to financial management and our strong, stable capital base. Our long-term financial stability, which stems from the success and capabilities of our partners, continues to set us apart from many of our peers.
If you’d like to learn more about BroadStreet Partners℠ and our approach, please contact us.