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Published on 8/14/2018 in the Prospect News Bank Loan Daily and Prospect News Investment Grade Daily.

S&P lifts H.B. Fuller view to stable

S&P said it affirmed the BB+ issuer credit rating on H.B. Fuller Co. and revised the outlook to stable from negative.

The outlook revision reflects a view that the company is on track to deliver meaningful revenue growth, margin expansion and debt reduction over the next two years, S&P said.

These factors will lead to weighted-average credit measures considered appropriate for the BB+ rating, the agency said.

The company continues strong revenue growth, S&P added.

Since the Royal acquisition about 10 months ago, there have been no material setbacks in the integration process, the agency said.

S&P said it believes there are challenges ahead to capture synergies, but some of the execution risk around the integration has reduced.


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