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CHICAGO - Professional services firm Huron (NASDAQ:HURN), with a market capitalization of $2.1 billion, announced Thursday it has refinanced and expanded its senior secured credit facility, increasing its borrowing capacity to $1.1 billion while extending the maturity date to July 2030.
The amended facility consists of a $700 million revolving credit facility and a $400 million term loan, replacing the previous arrangement that was set to mature in November 2027. The company said the new terms also improve pricing and provide greater flexibility for capital deployment. According to InvestingPro data, Huron maintains a healthy current ratio of 2.08, indicating strong liquidity position and ability to meet short-term obligations.
"This amended and restated credit facility further strengthens our balance sheet and provides the flexibility to execute on our capital deployment priorities: returning capital to shareholders while maintaining our target leverage ratio and completing programmatic tuck-in acquisitions," said John D. Kelly, chief financial officer of Huron. The company’s commitment to shareholder returns is evident through management’s aggressive share buyback program, as highlighted in InvestingPro’s analysis, which offers additional insights through its comprehensive Pro Research Report.
The refinancing received strong support from lenders, resulting in oversubscribed demand, according to the company. Bank of America, JPMorgan Chase Bank, N.A., and PNC Bank, National Association participated in the transaction along with a syndicate of other lenders.
Huron indicated that additional details regarding the amended credit facility will be included in an upcoming Form 8-K filing with the Securities and Exchange Commission.
The company describes itself as a global professional services firm that collaborates with clients on strategy development, operations optimization, and digital transformation initiatives. With revenue growth of approximately 9% over the last twelve months and an "GREAT" financial health score from InvestingPro, Huron demonstrates strong operational performance in its sector.
The information in this article is based on a press release statement from Huron.
In other recent news, Huron Consulting Group announced its agreement to acquire Eclipse Insights, a firm specializing in healthcare revenue cycle consulting. This acquisition aims to enhance Huron’s capabilities in delivering comprehensive revenue cycle solutions for healthcare providers. In addition, Benchmark analysts reaffirmed their Buy rating for Huron Consulting, maintaining a price target of $165.00. This decision comes after discussions with Huron’s senior management, highlighting a stable outlook amid recent government actions affecting its Healthcare and Education clients.
Furthermore, Huron Consulting expanded its incentive plan following a vote at its Annual Meeting. Stockholders approved an amendment to the company’s Omnibus Incentive Plan, authorizing an additional 900,000 shares for issuance. The meeting also saw the election of new board members and the ratification of PricewaterhouseCoopers LLP as the independent auditor for the fiscal year ending December 31, 2025. These developments reflect Huron’s ongoing efforts to adapt and grow in a challenging business environment.
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