S&P ups Electronics For Imaging

S&P said it raised its ratings for Electronics For Imaging Inc., its revolver and first-lien term loan to B- from CCC+. The 3 recovery rating is unchanged.

“EFI has achieved some of its highest quarterly S&P Global Ratings-adjusted EBITDA margin since the LBO in 2019. We believe that future growth in operating costs will be leveraged to growth. While EBITDA margins will come down due to the sale of the higher-margin productivity software business, we still expect EFI's EBITDA margin to improve to the 13%-17% range in 2021 following the divestiture,” S&P said in a press release.

The outlook is stable.

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