S&P lifts Synlab view to stable

S&P said it revised the outlook on Synlab to stable from negative and affirmed the B+ long-term rating.

Synlab is raising €150 million through a term loan B add-on to repay its revolving credit facility and support its external growth strategy, S&P said.

The agency said it believes the group will continue to participate in market consolidation, thereby slowing its de-leveraging efforts, but demonstrate its ability to grow organically, integrate acquisitions and improve free operating cash flow.

The stable outlook reflects a view that Synlab will continue to grow profitably, successfully integrate acquisitions and reduce its financial leverage toward 7x over the next 12 months with solid free operating cash flow, the agency said.

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