S&P shifts LJ Ruby to stable

S&P affirmed its ratings on LJ Ruby Holdings LLC and shifted its view to stable from negative.

The stable outlook reflects the expectation that LJ Ruby will generate meaningful free operating cash flows in 2021 and operating performance should benefit from improving demand across the majority of its end markets, allowing the company to reduce S&P Global Ratings-adjusted debt to EBITDA to the low-to-mid 5x area.

The company retains its B- issuer credit rating.

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