S&P views Odyssey Logistics positively

S&P said it revised its outlook for Odyssey Logistics & Technology Corp. to positive from stable and affirmed the B- issuer rating. The agency also affirmed B issue-level rating on the company's first-lien term loan and CCC rating on the second-lien term loan. The recovery ratings are unchanged.

“Odyssey has reported strong revenue growth in recent quarters, benefitting from the macroeconomic recovery following pandemic-related shutdowns in 2020. We currently expect market conditions will remain generally favorable for Odyssey over the next 12 months,” the agency said in a press release.

S&P said it estimates total revenue will grow at least in the high-single-digit percent area in 2022 before moderating somewhat to the low-single-digit percent area in 2023.

The positive outlook indicates the potential for an upgrade within the next 12 months if inflation does not bruise credit measures.

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