S&P shifts Avalign view to stable

S&P said it revised the outlook for Avalign Holdings Inc. to stable from negative.

“Our outlook revision to stable follows the company's improved performance through the first three quarters of 2020, and our expectation for modest positive discretionary cash flow in 2020 and 2021. The company's operating performance in 2020 has exceeded our expectations, benefitting from lower one-time expenses leading to moderately positive discretionary free cash flow,” S&P said in a press release.

The agency also affirmed the B- ratings on Avalign and its secured debt. The recovery rating remains 3.

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