Fitch revises Waystar view to positive

Fitch Ratings said it affirmed Waystar Technologies, Inc.'s long-term issuer default rating at B and revised the outlook to positive from stable. The agency also affirmed Waystar's senior secured first-lien term loan at BB-/RR2.

“The ratings and revision in outlook reflect Fitch's expectations of declining leverage with revenue growth expected in low double digits and solid EBITDA generation allowing the company to naturally delever. Fitch expects the above growth expectations will lead to leverage declining below 5.5x in the next 18 - 24 months absent any significant debt-funded acquisitions. Fitch does not expect any significant debt-funded acquisitions to occur given the company's recent announcement to go public via an IPO,” the agency said in a press release.

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