S&P revises Mobilux 2 view to positive

S&P said it revised the outlook of Mobilux 2 SAS to positive from stable and affirmed the B issuer credit rating and BB- and B issue ratings on the company’s revolver and €380 million senior secured notes respectively.

The positive outlook mirrors S&P’s view that Mobilux’s performance will stay positive.

“Following the strong results for fiscal 2019 and first-quarter fiscal 2020, we expect robust revenue and EBITDA growth due to slightly lower competitive pressures and the reorganization of the company’s supply chain. Consequently, we expect improved profitability and working capital management to translate into S&P Global Ratings-adjusted leverage decreasing below 4.5x, earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) coverage above 1.7x and significantly positive FOCF,” said S&P in a press release.

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