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S&P revises Kraton view to stable
S&P said it revised its outlook for Kraton Corp. to stable from developing.
Kraton closed its acquisition by DL Chemical Co. Ltd., a subsidiary of Korean holding company DL Holdings Co. Ltd.
“While the transaction slightly increased debt we anticipate Kraton's credit metrics to be in line with the current rating. We project metrics such as weighted-average FFO to debt of over 20% during the next couple of years. Our base-case scenario does not consider any additional increases in debt for shareholder rewards or acquisitions. We assume the company's EBITDA margins may slightly tighten due to inflationary pressures and supply chain issues this year before recovering back to the low-20% area in the coming years,” S&P said in a press release.
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