S&P ups Acacium

S&P said it raised its ratings on Acacium Group Ltd., its subsidiary ICS US Holdings Ltd. and their senior secured debt to B+ from B.

Acacium beat S&P’s EBITDA forecast driving leverage down below the agency’s estimates, S&P said.

“We consider the outperformance in 2022 to be exceptional, and now expect S&P Global Ratings-adjusted leverage of 3.5x-4x from financial year 2023 (ending Dec. 31) onward, compared with our previous expectations of over 5x, the agency said in a press release.

The outlook is stable.

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