S&P ups North American Construction

S&P said it raised its long-term issuer credit rating on North American Construction Group Ltd. to B+ from B. The outlook is stable.

“The upgrade primarily reflects the successful integration of acquired assets and our expectation for continued strong credit measures, despite weak industry conditions,” S&P said in a news release.

“We believe the company will continue to generate strong credit measures, with adjusted funds from operations-to-debt near 40% in 2020 and 2021,” S&P said.

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