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S&P moves SPX Flow outlook to negative
S&P said it revised its outlook for SPX Flow Inc. to negative from stable and affirmed all its ratings on the company and its debt.
“We expect SPX Flow's debt leverage will remain high over the next 12 months. We forecast S&P Global Ratings-adjusted debt leverage will be about 10x-11x at the end of 2022, including about $66 million of expenses (strategic actions, purchase accounting) the company incurred in the first half of the year related to the Lone Star LBO,” the agency said in a press release.
S&P said the negative outlook mirrors the risk that leverage will remain very elevated over the next 12 months.
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