Moody’s moves Mativ view to stable

Moody’s Investors Service said it revised its outlook for Mativ, Inc. (formerly Schweitzer-Mauduit International, Inc.) to stable from negative. The agency also affirmed Mativ’s Ba3 corporate family and probability of default ratings, the Ba2 senior secured debt rating and the B2 senior unsecured debt rating. The SGL-3 speculative grade liquidity rating remains unchanged.

“The affirmation of the ratings and the change in the outlook to stable reflects Moody's expectation of improving liquidity and credit metrics over the next 12-18 months. While leverage is high and de-leveraging will be protracted amid macro and supply chain pressures, Moody's expects Mativ to leverage its positive price and cost actions and capitalize on the opportunities the July 2022 combination with Neenah, Inc. presents to improve returns,” the agency said in a press release.

Moody’s said it sees Mativ’s leverage trending towards 4.5x over the next 18 months.

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