S&P revises Viant outlook to positive

S&P said it improved its outlook for Viant Medical Holdings Inc. to positive from stable and affirmed all its ratings, including the CCC+ issuer rating.

“The positive outlook reflects the possibility of an upgrade in the next year if Viant's EBITDA, FOCF, and credit metrics continue to improve. In the first quarter ended March 31, 2023, the company's sales increased 22.8% compared with first-quarter 2022 as medical procedure volumes recovered and industrywide operating conditions improved. We expect the rebound in medical procedures and Viant's expanding capabilities will support strong demand for the company's contract manufacturing services in the coming years.

“Viant's S&P Global Ratings-adjusted EBITDA margin expanded 70 basis points to 12% compared with the first quarter of 2022, driven by increased operating leverage on higher volumes. We expect its EBITDA margin will expand further throughout the year from additional measures to offset raw materials inflation and wage increases,” S&P said in a statement.

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