Fitch revises FIS outlook to positive

Fitch Ratings said it revised the outlook on FIS Fabbrica Italiana Sintetici SpA to positive from stable and affirmed its B+/RR3 senior secured debt rating and B issuer default rating.

The outlook revision and ratings affirmations follow Bain Capital's announcement of its acquisition of FIS, the agency said.

“The positive outlook reflects our view that FIS will continue to deliver solid organic growth and profitability improvements, leading to EBITDA leverage projected to remain below 4x from 2024, underpinned by a commitment to a conservative financial risk profile. The positive outlook is also based on our assessment of free cash flow (FCF) before expansion capex turning positive on a sustained basis from 2024,” Fitch said in a press release.

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