Moody’s stabilizes Owens & Minor view

Moody’s Investors Service said it revised its outlook for Owens & Minor, Inc. to stable from negative and affirmed its ratings, including its Ba3 senior secured and B2 senior unsecured ratings.

“The revision of the outlook to stable reflects Owens & Minor's improved operating performance, stronger cash generation and debt repayment. The company has materially reduced its inventory in 2023, which had a positive impact on working capital, and has allowed for debt repayment,” the agency said in a press release.

Moody’s said it forecasts the company’s leverage will narrow towards 3x within the next 12-18 months, further helped by debt repayment.

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