Affirm Nearly Doubles Revolver to $675M, Appoints New Director; Morgan Stanley Downgrades
Summary
Affirm has significantly expanded its unsecured revolving credit facility, nearly doubling it from $330 million to $675 million and extending its maturity to June 2029. This follows yesterday's news of an expansion and provides the specific new facility size, further bolstering the company's liquidity after a $1.7 billion capital partnership earlier this month. Additionally, Ryan Schneider has been appointed to the board as a Class III director, effective July 1, 2026. Separately, Morgan Stanley downgraded Affirm's rating from Overweight to Equalweight, removing it from their Top Picks.
At the time of this announcement, AFRM was trading at $76.44 on NASDAQ in the Finance sector, with a market capitalization of approximately $25.7B. The 52-week trading range was $42.10 to $100.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.