S&P lifts Triton International from junk

S&P said it raised its issuer credit rating on Triton International Ltd. to BBB- from BB+. The outlook is stable.

At the same time, S&P raised the rating on its preferred stock to BB from B+ and affirmed the BBB- issue-level rating on its secured debt.

“Although we expect record levels of capital spending and incremental debt to meet strong demand, we think the company's credit metrics will likely remain relatively stable at healthy levels through 2022,” S&P said in a news release.

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