S&P revises Amynta view to stable

S&P said it revised Amynta Holdings LLC’s outlook to stable from negative and affirmed its B- issuer credit and first-lien debt ratings. The 3 recovery rating on Amynta’s first-lien credit facility remains unchanged, indicating expectations of meaningful recovery (50%-70%; rounded estimate: 64%) in default.

“We have revised our outlook on Amynta to stable from negative, reflecting the resilience of the business during a pandemic evidenced by the company’s ability to achieve organic growth in the third quarter, improve margins, and de-lever the business to below 8.5x by year-end 2020,” S&P said in a press release.

The agency said it forecasts Amynta improving margins into the 15%-18% area as a percent of gross revenues from cost savings.

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