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S&P lifts REV Group to BB-
S&P said it raised its rating on REV Group Inc. to BB- from B+.
The outlook is stable.
The agency said the upgrade reflects the company's low leverage, with total debt to EBITDA of 2.5x as of July 29, and an expectation that it would improve further to 1.5x by the end of 2017, in line with the company's stated financial policy.
In addition, REV Group's solid financial performance is driven largely by acquisition-based revenue growth and strong margin expansion, S&P added.
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