S&P revises Kissner view to stable

S&P said it revised its outlook on Kissner Holdings LP to stable from negative.

At the same time, S&P affirmed its B long-term issuer credit rating on Kissner.

The agency also affirmed its B issue-level rating on the company's senior secured notes. The recovery rating on the debt is unchanged at 4, indicating average (30%-50%; rounded estimate 30%) recovery under a simulated default scenario.

“The outlook revision primarily reflects our expectation that Kissner's cash flows will improve meaningfully in fiscal 2019, supported by a favorable pricing environment following the above-average winter snowfall in fiscal 2018,” S&P said in a news release.

“We believe increased prices, along with our assumption of normal winter weather patterns, should enable the company to generate stronger cash flows and credit measures than previously expected.”

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