S&P shifts Zacapa view to positive

S&P said it revised its outlook on Zacapa Sarl to positive from stable and affirmed the B- issuer rating.

Zacapa pushed through the past 18 months of pandemic fallout with better profitability and a healthier revenue base, the agency said.

“We anticipate a 25% revenue increase in 2021 with an S&P Global Ratings-adjusted EBITDA margin of 51%-52% that pushes adjusted leverage below 6x. We also expect slightly positive FOCF from 2022,” S&P said in a press release.

However, total debt is likely to continue growing to fund high growth and heavy capital expenditures over the coming years, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.