S&P shifts Teleflex view to stable

S&P said it revised the outlook for Teleflex Inc. to stable from negative citing progress in cutting the company’s leverage to less than 3x as of Dec. 31. The agency also affirmed Teleflex’s BB+ rating.

“The rating affirmation and the revision of the rating outlook to stable from negative reflect our expectation Teleflex will maintain leverage of about 3x in 2020-2021, despite its appetite for midsize acquisitions. This is based on continued solid revenue and EBITDA growth, and commitment to deleveraging after significant acquisitions,” said S&P in a press release.

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