| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Avison Young (Canada) Inc. > News item |
S&P turns Avison Young view to stable
S&P said it revised the outlook for Avison Young (Canada) Inc. to stable from negative and affirmed the B- ratings on the issuer and its term loan due 2026. The 3 (50%) recovery rating indicates an expectation of a meaningful recovery in default.
“The outlook revision follows improved EBITDA coverage of cash interest as operating performance has rebounded due to favorable macroeconomic conditions. For the rolling 12 months (RTM) ended Sept. 30, 2021, Avison Young EBITDA coverage of cash interest improved to about 1x (0.4x including payment-in-kind [PIK] interest) from 0.1x at year-end 2020. For RTM September 2021, Avison Young's cash interest was C$37.3 million (C$91.5 million including PIK) versus C$39 million cash interest (C$86.4 million at year-end 2020),” S&P said in a press release.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.