S&P revises Angi outlook to positive

S&P said it revised its outlook for Angi Inc. to positive from stable and affirmed the B issuer rating.

“We expect Angi will gradually reduce its leverage and improve cash flow over the next 12 months following multiyear restructuring initiatives. We expect Angi will reduce its S&P Global Ratings-adjusted gross leverage to 6x and improve its FOCF to debt coverage to about 10% by the end of next year. This compares to our expectations for the company to end the year with leverage of about 8x and FOCF to debt of about 6%,” the agency said in a press release.

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