S&P raises Kronos Worldwide

S&P said it boosted its ratings for Kronos Worldwide Inc. to B from B- and its senior secured notes to BB- from B. The agency also revised the recovery rating on the secured notes to 1 from 2. The 1 recovery rating indicates exceptional (90%-100%; rounded estimate: 90%) recovery prospects in default.

“Our rating actions reflect that we anticipate Kronos will build on strong operating performance and better pricing and volumes to strengthen operating earnings and modestly improve credit metrics in 2022. Our view for steady to slight improvement in earnings incorporates positive demand trends for the company's products,” the agency said in a press release.

The outlook is stable.

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