S&P revises BMC view to stable

S&P said it revised the outlook for BMC Acquisition Inc. (BenfitMall) to stable from negative and affirmed its ratings.

The agency noted BenefitMall reported a stronger-than-anticipated operating performance during the year-to-date period ending September due to its strong customer retention despite the pandemic.

“The stable outlook reflects our expectation that the company will increase its revenue by the low- to mid-single-digit percent area while managing its cost structure to maintain FOCF to debt in the low- to mid-single-digit percent area and leverage of less than 8x on a sustained basis over the next 12 months. The stable outlook also incorporates our expectation that BMC’s liquidity will likely be sufficient to cover its near-term needs,” S&P said in a press release.

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