S&P revises Lineage Logistics view to positive

S&P said it revised its outlook on Lineage Logistics LLC to positive from stable and affirmed its B issuer credit rating on the company.

At the same time, S&P affirmed its B issue-level rating on the company's senior secured term loan. The 4 recovery rating remains unchanged, indicating an expectation for average (30%-50%; rounded estimate: 35%) recovery for lenders in the event of a payment default.

“We revised our outlook on Lineage to positive from stable based on the company's increased scale in the global cold storage logistics industry and slightly improved credit metrics pro forma for the announced acquisition (despite the incremental debt it will take on to fund the transaction),” S&P said in a news release.

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