Fitch turns Knowlton view to positive

Fitch Ratings said it revised its outlook for Knowlton Development Corp., Inc.'s, KDC US Holdings, Inc. and kdc/one Development Corp. to positive from stable.

“The positive outlook reflects adjusted leverage in the mid-6x range, strong liquidity, and Fitch's expectation for modestly positive free cash flow. Increased confidence in continued organic EBITDA growth and a commitment to sustaining leverage below 7x would likely lead to positive ratings momentum,” the agency said in a press release.

Concurrently, Fitch affirmed the B- issuer ratings and all debt ratings at B-/RR3.

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