Purchasing Power, a subsidiary of PROG Holdings, closed a $225 million asset‑backed securities issuance on March 3 2026, reducing the weighted average coupon rate by more than 180 basis points compared with its 2024 ABS transaction. The new issuance, rated from AAA to BB‑ by Kroll Bond Rating Agency, provides a lower‑cost financing source for the company’s payroll‑deduction employee benefit programs.
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PROG Holdings, Inc. (PRG) reported fourth‑quarter 2025 financial results that included consolidated revenue of $574.6 million, a 5.2% decline from the same period in 2024. Net earnings from continuing operations fell to $19.9 million, down from $58.3 million a year earlier, while adjusted EBITDA stood at $61.5 million, representing 10.7% of revenue. Progressive Leasing’s fourth‑quarter gross merchandise volume (GMV) dropped 10.6% to $534.0 million, whereas Four Technologies and PROG Marketplace continued to deliver strong growth, with Four Technologies reporting a 126% GMV increase and PROG Marketplace posting a 187% rise.
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