Curo Group Holdings Quick Ratio (CURO) starting from the third quarter 2023 to third quarter 2022, Financial Strength Trends, Rankings, Financial Ratios - CSIMarket
CURO's quarterly Quick Ratio and Cash & cash equivalent, Current Liabilities growth
Current Liabilities decreased faster than Curo Group Holdings 's Cash & cash equivalent, this led to improvement in Curo Group Holdings 's Quick Ratio to 3.51, Quick Ratio remained below Curo Group Holdings Corp average.
Within Miscellaneous Financial Services industry 20 other companies have achieved higher Quick Ratio than Curo Group Holdings in third quarter 2023. While Quick Ratio total ranking in the third quarter 2023 has deteriorated compared to the prior quarter from 731 to 797.
In a time of uncertainty, CURO Group Holdings Corp. navigates financial challenges with forbearance agreements CURO Group Holdings Corp., a leading consumer finance company in the United States and Canada, has recently announced that it has entered into forbearance agreements with the majority of its senior secured note holders. These agreements allow CURO to continue constructive discussions with lenders and stakeholders as they navigate financial challenges. The Forbearance Agreements, which were reached with holders of approximately 84% of the outstanding aggregate principal amount of the company s 7.500% Senior 1.5 Lien Secured Notes due 2028, provide CURO with some breathing room as they work towards a resolution. Additionally, the company has also entered into agreements with holders of approximately 74% of the outstanding aggregate principal amount of the same notes.
In the recent announcement by CURO Group Holdings Corp., the expiration and results of its consent solicitation for its 7.500% Senior 1.5 Lien Secured Notes due 2028 have been revealed. This omni-channel consumer finance company, serving consumers in the U.S. and Canada, has seen a decrease in its current liabilities at a faster rate than its cash and cash equivalents, resulting in an improved quick ratio of 3.51. Comparing this ratio to others in the industry, it is clear that CURO Group Holdings Corp. is lagging behind with a ranking of 797. However, there has been a significant increase in cash and cash equivalents by 120.76% in the third quarter of 2023 compared to the previous year, boosting the trailing twelve months quick ratio to 2.91.
Amid Strong Financial Performance, CURO Group Holdings Corp. Announces Consent Solicitation for Senior Lien Secured Notes In a recent press release, CHICAGO CURO Group Holdings Corp. (NYSE: CURO) announced its intention to solicit consents from holders of its outstanding 7.500% Senior 1.5 Lien Secured Notes due 2028. This move comes as the company reports a significant improvement in its financial health, with current liabilities decreasing faster than its cash and cash equivalents. As a result, CURO Group Holdings quick ratio has improved to 3.51, positioning the company more favorably among its peers in the industry. It s worth noting that CURO Group Holdings Corp. has more than doubled its cash and cash equivalents in the past year, leading to a 120.76% increase in its trailing twelve months quick ratio. While the company s quick ratio remains below the industry average, it has seen notable progress in its ranking compared to previous quarters.
On the trailing twelve months basis CURO Cash & cash equivalent more than doubled by 106.02 % in Q3 2023 year on year, faster than Current Liabilities, this led to increase in in Curo Group Holdings 's Quick Ratio to 2.46, Quick Ratio remained below CURO average. Quick Ratio is the average cumulative value over the last four quarters.
Among companies operating within Miscellaneous Financial Services industry 20 other companies have achieved higher Quick Ratio than Curo Group Holdings . While Quick Ratio total ranking has deteriorated compared to the previous twelve months ending in the second quarter 2023 from 296 to 673.
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