S&P lifts Tornante-MDP Joe view to stable

Standard & Poor’s said it revised the outlook on Tornante-MDP Joe Holding LLC to stable from negative and affirmed the B corporate credit rating and senior secured issue-level ratings.

The outlook revision reflects a view that EBITDA growth in 2015 will allow the company to improve credit measures, S&P said.

Tornante-MDP Joe is expected to benefit from increased product pricing and new product launches in its confectionery segment and a modest increase in demand for products in its sports and entertainment segment in 2015 and 2016, the agency said.

The company also will benefit from cost efficiencies gained through restructuring in 2014, S&P said.

The ratings also consider its vulnerable business risk profile and highly leveraged financial risk profile, the agency said.

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