Life Time Group Gets A Boost: Moody's Upgrades Credit Rating Citing Strong Performance

Life Time Group Holdings Inc LTH said that Moody's Investor Service has upgraded the company's issuer credit rating to B2 from B3.

Moody's cited the company's improving performance, including membership, revenue and EBITDA trends, and steps taken to continue to improve its balance sheet and reduce leverage as reasons for the upgrade.

LifeTime Group also said it has closed on a sale-leaseback transaction for approximately $45 million in gross proceeds.

The transaction involved one property and was with an institutional real estate investor.

The company has now closed on all of the $123 million of previously announced sale-leaseback transactions through August 24, 2023.

Price Action: LTH shares are trading lower by 1.72% at $16.59 on the last check Thursday.