S&P trims BrightView Landscapes

S&P said it lowered its issuer credit rating on BrightView Landscapes LLC to B from B+.

The outlook is stable.

BrightView Landscapes' S&P Global Ratings-adjusted leverage increased to 5.5x at the end of 2022 due to fuel and labor cost inflation and a low snowfall period which constrained profitability in its maintenance services segment, S&P said.

S&P forecast leverage will remain elevated in the next one to two years as the company utilizes cash for acquisitions and share repurchases.

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