S&P changes Atlas Midco view to stable

S&P said it revised its outlook on the ratings on Atlas Midco Inc. (Alvaria) and its wholly owned borrowing entity, Atlas Purchaser Inc., to stable from positive and affirmed the B- issuer credit ratings.

“The stable outlook reflects our expectation that Alvaria will return to low-single-digit-percent pro forma revenue growth in 2022 helped by investments in its sales and customer success functions, while EBITDA margins will remain in the low- to mid-30% area in 2022, resulting in leverage of just below 7x,” S&P said in a news release.

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