S&P revises Entegris view to positive

S&P said it revised the outlook to positive from stable on Entegris Inc. and affirmed its BB corporate credit rating.

The agency also said it affirmed the ratings on the company's first-lien term loan and senior unsecured notes.

The first-lien credit facilities consist of a $75 million revolver and a term loan with $134 million outstanding.

The term loan is rated BBB- with a 1 recovery rating.

The 1 recovery rating indicates 90% to 100% expected default recovery.

The $550 million senior unsecured notes are rated at BB- and have a 5 recovery rating.

The 5 recovery rating indicates 10% to 30% expected default recovery.

The positive outlook reflects the company's strong execution, consistent revenue growth and positive industry environment, which is expected to support ongoing EBITDA growth and low leverage throughout the next year, S&P said.

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