S&P turns Rubix view to positive

S&P said it revised its outlook for Rubix Group Holdings Ltd. to positive from stable and affirmed the B- issuer and senior secured facilities ratings. The 3 recovery rating on the facilities is unchanged.

“Management continues to bolster the post-pandemic end-market recovery with mergers and acquisitions (M&A), leading to strong top-line growth. We expect Rubix to generate organic revenues of around €2.85 billion-€2.9 billion in 2022, a rise of 8%-10% compared with 2021, with acquisitions complementing this robust organic growth. Organic growth will largely derive from the rebound in activity in Rubix's end markets following the disruption to many manufacturing sectors due to the Covid-19 pandemic,” S&P said in a press release.

The positive outlook mirrors the position the company continue boosting its EBITDA this year and in 2023, the agency said.

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