S&P lifts Optimas OE Solutions

S&P said it upgraded Optimas OE Solutions Holding LLC to CCC from SD and raised the rating on the company’s senior notes to CCC- from D. The recovery rating remains 5, indicating an expectation for modest (10%-30%; rounded estimate: 25%) recovery in a payment default.

The agency sees the possibility of additional debt restructurings within 12 months, but it believes Optimas could improve profitability modestly in 2020 from cost-reduction efforts.

The outlook is negative.

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