S&P lifts Advantage Sales view to positive

S&P said it revised Advantage Sales & Marketing Inc.’s outlook to positive from stable and affirmed its B corporate credit rating.

The agency also said it affirmed the B ratings on the company's $200 million first-lien revolving credit facility due in 2019 and $2.01 billion first-lien term loan due in 2021.

The recovery ratings are unchanged at 3, indicating 50% to 70% expected default recovery.

S&P also said it affirmed the CCC+ rating on the company's $760 million second-lien debt due in 2022. The 6 recovery rating is unchanged, indicating 0 to 10% expected default recovery.

The outlook revision reflects an expectation that the company’s operating performance gains will continue to propel modest strengthening of its credit measures over the near- to medium-term, the agency said.

The company has meaningfully improved its top line over the past year as it has benefitted from new business wins and bolt-on acquisition activity, S&P said.

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