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S&P improves Enviri view to stable
S&P said it revised its outlook for Enviri Corp. to stable from negative and affirmed the B+ issuer rating.
Enviri Corp.'s pricing and cost initiatives, specifically in its Clean Earth segment, drove improved operating performance and S&P Global Ratings-adjusted leverage of 4.7x in 2023, 4.4x including EBITDA for the rail business, the agency said.
“The stable outlook reflects our view that Enviri will modestly increase its revenue and profitability and generate positive free operating cash flow (FOCF), reducing its S&P Global Ratings-adjusted debt leverage to the low- to mid-4x area over the next 12 months,” the agency said in a press release.
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