S&P shifts Filtration view to stable

S&P said it revised the outlook on Filtration Group Corp. to stable from negative and affirmed B ratings on the company and its senior secured bank debt.

“FGC's profitability will likely be stronger than we previously anticipated in 2020, driven by resilient indoor air quality and medical, bioscience, and pharmaceutical end markets. We now forecast revenue declines will be limited to the mid- to high-single-digit percent range compared to our prior forecast of a double-digit decline in 2020,” S&P said in a press release.

The agency said it forecasts S&P-adjusted debt to EBITDA of 5.5x-6.5x over the next 12 months for the company.

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