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S&P raises Cabot
S&P said it raised the ratings on Cabot Corp. and its unsecured debt, including the company's unsecured credit facility and unsecured notes, to BBB from BBB-.
“We expect the significant improvement in Cabot Corp.'s 2021 EBITDA and credit measures to be sustained into 2022, supported by a better carbon black pricing environment, a rebound in replacement tire demand, and higher automotive production and new light-vehicle sales,” S&P said in a press release.
The agency said it forecasts full-year S&P Global Ratings-adjusted EBITDA of more than $600 million, up from around $400 million in 2020.
The outlook is stable.
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