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S&P lifts ASP Emerald view to stable
S&P said it affirmed the B- issuer credit rating on ASP Emerald Holdings LLC and revised the outlook to stable from negative.
The stable outlook is due to the company addressing the maturity of its revolving credit facility, S&P said.
The company's near-term liquidity concerns are resolved with the extension of the maturity of its revolving credit facility to 2021 from 2019, the agency said.
The stable outlook reflects expectations that credit measures will modestly improve with adjusted debt-to-EBITDA of 6x to 7x over the next 12 months, S&P said.
That is due to modest volume growth, fewer planned restructuring initiatives and fewer operational disruptions than in 2018, the agency said.
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