S&P moves Diversey view to stable

S&P said it changed its outlook for Diamond (BC) BV (Diversey) to stable from positive and affirmed its B issuer rating.

The agency noted Diversey did not meet S&P’s prior forecasts.

“The stable outlook reflects our view that Diversey's operating performance and credit metrics should improve incrementally over the remainder of 2022, as the company implements pricing actions and energy surcharges to recover margin lost to rising raw material costs. Earnings and credit metrics should also benefit from marginal new business wins, a recovery in the company's pandemic-affected institutional business, and the roll-off of transformation/IPO-related costs and special charges,” the agency said in a press release.

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