S&P revises Owens & Minor view to positive

S&P said it revised Owens & Minor Inc.’s outlook to positive from stable.

“The outlook revision reflects our more optimistic view of EBITDA generation. Since we upgraded OMI by two notches to B+ last October, its positive sales and earnings momentum has continued. We now have incrementally higher confidence that the company can manage through potential earnings headwinds in 2022/2023, when we expect the strong sales for PPE to begin to normalize, such that S&P Global Ratings-adjusted leverage can stay between 3x-4x, even with some EBITDA pressure,” S&P said in a press release.

The agency said it sees a one-in-three chance OMI could outperform its EBITDA forecast.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.