S&P ups KION view to positive

Standard & Poor's said it revised its outlook on KION Group GmbH to positive from stable and affirmed the B long-term corporate credit rating on KION.

In addition, S&P affirmed its B issue ratings on KION's €650 million and €500 million senior secured notes. The recovery rating on €500 million and €650 million back-to-back loan facilities borrowed by Linde Material Handling is 4, indicating S&P's expectation of average (30%-50%) recovery prospects for lenders in the event of a payment default.

S&P said the outlook revision reflects KION's significantly improved credit metrics and the potential for a one-notch upgrade over the next 12 months.

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