S&P moves Mirion view to positive

S&P said it revised its outlook on Mirion Technologies Inc. to positive from stable and affirmed all its ratings, including the B issuer rating.

“The company's debt repayment has accelerated its deleveraging. Following Mirion's February 2023 repayment of $125 million of debt with equity proceeds, we now forecast its S&P Global Ratings-adjusted leverage will decline to the mid- to high-4x area by the end of 2023, which compares with our prior forecast for the low-5x area. The prior forecast incorporated our expectation for modest increases in its revenue and EBITDA margin, which we continue to anticipate,” S&P said in a press release.

The agency said it also forecasts the company will widen its S&P Global Ratings-adjusted EBITDA margin by about 300 basis points in 2023.

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