S&P moves Victra outlook to positive

S&P said it revised its outlook for LSF9 Atlantis Holdings LLC (Victra) to positive from stable and affirmed the B ratings on the issuer and its senior secured debt.

“The positive outlook reflects our view that Victra will continue deleveraging toward S&P Global Ratings-adjusted leverage of 4x or less for 2023, supported by good operating performance and tailwinds in the broader industry. We expect Victra to de-lever primarily through EBITDA base growth and margin improvement attributed to synergies along with the EBITDA contribution from its acquisition of Go Wireless holdings earlier this year which we expect to be fully realized by next year,” S&P said in a press release.

The agency said it forecasts Victra’s S&P Global Ratings-adjusted EBITDA margins will improve toward the mid-to-high-13 % area in 2023 from roughly 11%.

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