S&P alters Corning view to stable

S&P said it revised Corning Inc.’s outlook to stable from negative, citing its improved performance.

“We continue to view Corning's expanding opportunities and growth drivers, including increasing content in its end markets, to support revenue and EBITDA expansion over the next two years as the macro environment improves. While Corning experienced significant business volatility during the peak of the pandemic, its operational performance has recovered strongly,” S&P said in a press release.

The agency said it forecasts Corning’s free operating cash flow generation in the $1.6 billion to $1.7 billion range in 2021.

Concurrently, S&P affirmed Corning’s BBB+ issuer rating.

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