S&P revises Americold view

S&P said it affirmed its B+ corporate credit rating on Americold Realty Operating Partnership LP and revised the outlook to positive from stable.

The company repaid its rated revolving credit facility due 2018 and term loan due 2022 with proceeds from an IPO completed on Jan. 19, a new $525 million senior secured term loan and a $400 million revolving credit facility.

Subsequently, the agency withdrew the corporate credit rating at the company's request.

S&P said the affirmation and positive outlook reflect an expectation that Americold's leverage will improve following the IPO, with proceeds used to repay debt, as well as improved operating performance.

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