S&P shifts Alphabet Holding view to stable

S&P said it revised the outlook for Alphabet Holding Co. Inc. to stable.

“The outlook revision reflects our expectation for good profit growth, solid free cash flow generation, and improved credit metrics, well ahead of our prior forecast. We estimate leverage will finish in the high-7x area at fiscal year-end 2019 and expect it will improve to the mid-7x area at fiscal year-end 2020, versus the mid-9x area at fiscal year-end 2018,” said S&P in a press release.

S&P affirmed Alphabet’s B- rating. The agency also affirmed the B+ issue-level rating on the company’s senior secured asset-based revolver, B- issue-level rating on its senior secured first-lien term loan and CCC issue-level rating on its senior secured second-lien term loan.

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