S&P alters Optimus outlook to positive

S&P said it revised its outlook for Optimus Bidco SAS to positive from stable and affirmed the B- ratings on the company and its first-lien debt as well as the CCC rating on the second-lien debt. The recovery ratings on the debt are unchanged.

“The positive outlook reflects our expectation that Optimus will be able to deleverage to S&P Global Ratings-adjusted gross debt to EBITDA of about 6x-5.5x in 2023 and to about 5x-4.5x in 2024. We also anticipate that the company will maintain FFO cash interest of about 2.3x-2.4x in 2023-2024. We project margins of 9% in 2023 and 10% in 2024, on an S&P Global Ratings-adjusted basis (8% for 2022, 30 basis points lower year-on-year),” S&P said in a press release.

© 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.