S&P turns EnergySolutions view to stable

S&P said it changed EnergySolutions Inc.’s outlook to stable from negative and affirmed all its ratings, including the B- issuer rating.

“As of June 30, 2021, EnergySolutions' adjusted-debt-to-EBITDA ratio was 6.5x, a solid improvement from 7.6x at the same point the prior year. Adjusted EBITDA increased 7% to $116 million while adjusted debt declined almost 9% to less than $750 million. Better cash generation in late 2020 and early 2021 enabled it to repay some of its revolver and term loan balances,” S&P said in a press release.

The outlook, the agency said, reflects a view that the company will continue its path of deleveraging and generate credit measures commensurate for the ratings while keeping liquidity adequate.

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