S&P shifts Ammega view to positive

S&P said it changed the outlook for Ammega Group BV to positive from stable and affirmed the ratings on the company, including the B- long-term issuer credit rating and the issue rating on its term loan.

Risks related to the Covid-19 pandemic have reduced, resulting in improved performance and decreasing leverage metrics. Our concerns about the pandemic's impact on Ammega have been offset by the strong performance and milestones it has achieved in the past two years. We expect our S&P Global Ratings-adjusted debt to EBITDA metrics to fall to about 7x for the full-year 2021 versus our previous expectations of about 7.4x-7.9x, while leverage will further decrease gradually to a comfortable level of 6.5x and below in 2022,” the agency said in a press release.

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