S&P revises Solenis UK view to stable

S&P said it revised Solenis UK International Ltd.’s outlook to stable from negative and affirmed its ratings on the company, its credit facility and first- and second-lien term loans.

“The outlook revision reflects the company’s better-than-expected performance over the last few quarters. We now expect Solenis’ debt to EBITDA to average about 7x over the next two years before improving slightly to the high 6x range in 2022,” S&P said in a press release.

The agency said it longer sees an elevated risk Solenis’ leverage will rise to unsustainable levels approaching the double digits and expect its cash flow generation and significant liquidity buffer to provide it with a cushion against possible problems.

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