S&P revises view on SIWF to stable

S&P said it revised its outlook on SIWF Holdings Inc. to stable from negative on expectation that the company will continue deleveraging.

At the same time, the agency affirmed its B issuer credit ratings on Springs Window Fashions LLC.

The company reduced its leverage to about 7.5x in 2018 through EBITDA growth. S&P forecasts that the company will further improve its leverage to about 6x in 2019 on good revenue growth and the realization of benefits from its cost-savings initiatives, S&P said in a news release.

The stable outlook reflects expectations that the company will reduce its leverage to 6x in 2019 and the mid-5x area in 2020 as S&P believes EBITDA will growth through a combination of good revenue growth and from its cost-savings initiatives.

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