Moody's shifts Sundyne view to positive

Moody's Investors Service said it changed the outlook to positive from negative and affirmed the ratings of Star US Bidco, LLC (Sundyne), including its B3 corporate family rating and B3 first-lien senior secured revolver, letters of credit facility and term loan ratings.

“The change in outlook to positive from negative reflects Moody's expectation that the company will maintain robust EBITDA margins and generate positive free cash flow while maintaining good liquidity. The positive outlook also reflects the company's better than expected operating performance amid the pandemic, supported by recurring aftermarket business and improving fundamentals in its end markets including petrochemical, LNG and refining,” the agency said in a press release.

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