S&P shifts Mercer International view stable

S&P said it changed the outlook for Mercer International Inc. to stable from positive reflecting its view that leverage will fall below 4x in 2020.

Mercer plans to add $200 million to its existing 2025 notes and use the proceeds to repay the remaining $100 million on its 2022 notes, with the balance to be used for general corporate purposes.

S&P said it sees lower cash flows ahead for Mercer, which means leverage will peak in 2019 at 4x and fall to 3x in 2020.

S&P affirmed all of its ratings on Mercer, including its BB- issuer credit rating on the company.

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