Bread CFO eyes new verticals after credit rating upgrade

Core Insights - Bread Financial's Q3 results indicate significant improvements in its balance sheet and ongoing optimization opportunities, with a focus on responsible and profitable growth [1] - The company is diversifying its customer and partner base, particularly targeting higher ticket spending verticals like home furnishings [2] - Bread Financial reported $188 million in net income for Q3, with a 17% year-over-year reduction in total non-interest expenses [3] Financial Performance - The company achieved $188 million in net income during Q3, with total non-interest expenses decreasing by $98 million compared to the previous year [3] - Total liquid assets increased to $7.8 billion from $7.6 billion year-over-year, reflecting progress in capital and liquidity improvement [3] Strategic Initiatives - Bread Financial received a credit rating upgrade from Moody's, which serves as external validation of the company's strength and efforts [4] - The CFO has prioritized a "game plan" for debt management, focusing on strengthening the balance sheet and aligning the capital structure with peers [5] - The company announced a private offering of $500 million in senior notes, expected to generate approximately $493 million in proceeds to redeem outstanding senior notes due 2029 [6]