Moody’s changes Avantor to stable

Moody's Investors Service said it affirmed the ratings of Avantor Performance Materials Holdings SA and changed its outlook to stable from negative.

Ratings affirmed include the B1 corporate family rating, B1-PD probability of default rating and the B1 rating on the first-lien and senior secured credit facilities issued by subsidiary Avantor Performance Materials Holdings, Inc.

"The action reflects the favorable impact on operations and credit metrics resulting from improved execution by new senior management, combined with recent and significant debt reduction," Joseph Princiotta, Moody’s vice president, senior analyst and lead analyst Avantor, said in a news release.

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