S&P turns Indigo outlook to positive

S&P said it changed its outlook on Indigo Group SA to positive from stable and affirmed its BBB- rating.

“The outlook revision reflects our view that Indigo's strategic initiatives and its prudent financial policy will likely support FFO to debt of above 10% in the next 12-18 months, from 12.1% in 2021,” the agency said in a press release.

Additionally, S&P said if its base case occurs, Indigo’s S&P Global Ratings-adjusted debt to EBITDA could hover at 6x-6.5x on average in the next 12-18 months, compared with its previous forecast of 6.5x-7x.

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