S&P revises WireCo WorldGroup view to stable

S&P said it revised its outlook on WireCo WorldGroup Inc. to stable from negative and affirmed the B issuer credit rating on WireCo.

S&P also affirmed its B+ issue-level rating on WireCo's $460 million first-lien term loan due in 2023 and the B- issue-level rating on its $135 million second-lien term loan due in 2024. The recovery ratings remain 2 and 5, respectively.

“The stable outlook reflects our view that recent price increases and relatively steady end markets will continue to support WireCo's operating margins and credit metrics in 2019,” S&P said in a news release.

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