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S&P: JELD-WEN to positive
S&P said it revised the outlook on JELD-WEN Inc. to positive from stable.
The agency also affirmed the company's B+ corporate credit rating.
S&P also said it affirmed the BB- issue-level rating on the company's $1.612 billion term loan due 2022.
The 2 recovery rating on the term loan is unchanged, indicating 70% to 90% expected default recovery.
The ratings affirmation and outlook revision reflects the possibility that they could raise the rating if JELD-WEN sustains it recent improvement in debt leverage of less than 4x over the next 12 months, S&P said.
JELD-WEN has improved its credit measures in 2017 with reduced debt and the successful integration of its acquisitions, the agency said.
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