S&P stabilizes Access CIG view

S&P said it revised Access CIG LLC’s outlook to stable from negative and affirmed its ratings, including the B rating on the first-lien credit facilities and the CCC+ rating on the second-lien term loan. The recovery ratings on the debt are unchanged.

“The outlook revision reflects our view that improving business conditions will support stable operating performance and steady deleveraging to the low-7x area in 2021. Access has navigated a period of challenging business conditions and we expect adjusted leverage (pro forma for acquisition contributions) will decline beneath our 7.5x downside trigger in 2021,” S&P said in a press release.

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