Albertsons Companies Enters Into a New $4 Billion Credit Agreement

Albertsons Companies, Inc. (NYSE:ACI) is one of the 10 Best Grocery Stocks to Buy According to Hedge Funds. On August 27, Albertsons Companies, Inc. (NYSE:ACI) and its subsidiaries entered into a new $4 billion credit agreement.

Albertsons is replacing its previous credit agreement from December 2021. The company has entered into a Fifth Amended and Restated Asset-Based Revolving Credit Agreement. The agreement initiates a $4 billion senior secured revolving credit facility, with provisions for rising commitments. The proceeds will be used for working capital and general corporate purposes.

Albertsons Companies Enters Into a New $4 Billion Credit Agreement

The latest agreement is set to mature in 2030, including various financial covenants and security interests. This credit agreement will enhance the company’s financial flexibility and operational strategies.

Albertsons Companies, Inc. (NYSE:ACI) is a food and drug retailer in the U.S. The company is engaged in the food and drug retail stores, selling grocery products, general merchandise, health and beauty care, and other items.

While we acknowledge the potential of ACI to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ACI and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.