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S&P lifts Amer Sports Holding 1
S&P said it raised its ratings on Amer Sports Holding 1 Oy, its €1.7 billion senior secured term loan B and the €315 million revolving credit facility due 2026 to B+ from B.
“Our B+ rating on Amer Sports continues to embed one notch of support from its main shareholder Anta Sports,” the agency said in a statement.
S&P noted Amer Sports boosted its sales for the financial year ending Dec. 31 by 30.3% beating the agency’s base case.
“We expect the group to post solid topline growth of 17%-18% in 2023 and 8%-9% in 2024. Alongside a continuous improvement in profitability, this will drive adjusted debt to EBITDA to around 6x over the same period,” the agency said. Amer Sports’ adjusted leverage for FY2022 was 7.2x.
The outlook is stable.
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