S&P upgrades Milacron

S&P said it raised its issuer credit rating on Milacron Holdings Corp. to B+ from B. The outlook is stable.

At the same time, S&P raised the rating on the company's secured debt to B+ from B. The recovery rating remains 3, which indicates an expectation for meaningful (50%-70%; rounded estimate: 50%) recovery in the event of a payment default.

“The upgrade reflects expected improvements in the company's operating performance in both revenues and margins, stemming from growth in its core businesses and completed restructuring efforts, which should help sustain higher operating margins and cash flows in 2019,” S&P said in a news release.

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