S&P affirms Greenbrier

Standard & Poor's said it affirmed the B- corporate credit rating on Greenbrier Cos. Inc.

The outlook was revised to positive from stable.

The outlook revision reflects the recent refinancing of Greenbrier's revolving credit facility and extension of some near-term maturities, S&P said.

The agency said it expects operating performance to continue to improve over time and credit measures to continue to pick up from weak levels.

While Greenbrier remains highly leveraged with a debt-to-EBITDA ratio of 6.3x, credit metrics are expected to improve to less than 6x within the next year, S&P said.

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