S&P assigns Meridian Adhesives B

S&P said it gave Meridian Adhesives Group Inc. and its senior secured credit facilities B ratings. The recovery rating on the facilities is 3.

“Our view of the company's financial risk reflects our expectation that it will maintain credit metrics that we consider appropriate for the rating, with weighted average debt to EBITDA of between 4.5x and 5.5x. We expect Meridian to significantly increase its revenue in 2021 through acquisitions, strong demand in all three of its segments, and pricing initiatives,” the agency said in a press release.

The outlook is stable.

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