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Fortrea Holdings Inc. (FTRE) just unveiled an announcement.
Fortrea Holdings Inc. has significantly reduced its debt by repaying $275 million of its Term Loans after divesting two of its businesses. Additionally, through its special purpose entity, it has sold receivables to further cut down debt by up to $200 million. With these strategic financial moves, the company projects a remaining debt of $1,142 million and plans to maintain a $300 million level in its receivables securitization program to strengthen its financial position.
See more insights into FTRE stock on TipRanks’ Stock Analysis page.