S&P changes Kronos view to stable

S&P said it revised Kronos Worldwide Inc.’s outlook to stable from negative and affirmed its ratings, including the B- issuer and senior secured notes’ ratings.

“The outlook revision reflects our view that the probability of Kronos' credit metrics weakening below levels we consider appropriate for the current rating has declined. The company's 2020 operating performance was slightly stronger than we expected. We anticipate Kronos will build on its strong operating performance and the slight improvement in its pricing and volumes to strengthen its operating earnings and modestly improve its credit metrics in 2021,” S&P said in a press release.

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