S&P revises Viad outlook to positive

S&P said it revised its outlook for Viad Corp. to positive from stable and affirmed all its ratings, including B+ issue-level rating on the company's secured debt. The recovery rating on the debt remains 2.

“We expect Viad Corp will reduce S&P Global Ratings-adjusted debt to EBITDA to 3.5x-4.0x in 2024 as the leisure travel, experiential marketing, and exhibition services provider benefits from a strong nonannual event calendar, a return of international exhibitors, and increased attractions revenue.

“This would represent a growing cushion compared to our 5x upgrade threshold to accommodate capital allocation actions and volatility over the cycle,” S&P said in a press release.

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