S&P shifts ASM Global view to stable

S&P said it changed ASM Global Parent Inc.’s outlook to stable from negative and affirmed all its ratings, including the B rating on the first-lien credit facility.

“ASM is poised for a recovery in event activity, attendance, revenue, and EBITDA, primarily for leisure-related events held in its arenas, stadiums and theaters (AST) beginning in the second half of 2021 and continuing into 2022 as the global vaccination effort progresses and restrictions on public gatherings and live events are mostly lifted,” S&P said in a press release.

“We expect a recovery in leisure-related events to precede and outpace a recovery in corporate events and conferences over the next 12-24 months, with many companies continuing to use a hybrid work approach through most of 2021 and the level of recovery in live in-person conference events globally still somewhat uncertain,” the agency said.

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