S&P shifts Kaman view to stable

S&P said it revised its outlook for Kaman Corp. to stable from negative and affirmed the BB issuer rating.

“The ratings affirmation and outlook revision reflect our expectation that credit ratios will remain at pre-pandemic levels. Credit ratios deteriorated amid the pandemic in 2020 due to lower revenues and higher costs, and we anticipated they could stay at weaker levels due to decreases in certain key revenue areas. However, Kaman performed well in 2021, and we expect operating performance to continue to support improved credit ratios in the future, with debt to EBITDA in the low-2x area,” S&P said in a press release.

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