S&P revises QBS view to stable

S&P said it revised QBS Parent Inc.’s (Quorum Business Services) outlook to stable from negative and affirmed its B- issuer rating, B first-lien debt rating and CCC second-lien debt rating.

“We forecast modest growth and improving free operating cash flow (FOCF), as QBS' customers recover from the commodity market downturn in 2020. Nevertheless, we expect S&P Global Ratings-adjusted leverage to remain high at over 10x through 2022 as limited customer capital spending restrains organic growth and as the company remains acquisitive,” S&P said in a press release.

The agency said it expects that macroeconomic recovery, an oil and gas industry rebound and synergies from recent acquisitions, will lead to sufficient free cash flow generation.

© 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.