361 Degrees has fully redeemed the remaining principal of around $130 million still outstanding from the the Chinese sports brand’s senior noted due on June 3, which were yielding an annual interest of 7.25 percent. The company had repurchased other tranches in the past two years. After this move, Standard & Poor’s revised its outlook for the company to stable from negative, while maintaining an issuer credit rating of B-. It then withdrew its rating at the company’s request as the bonds are not paid off.

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