S&P revises Cast & Crew view to stable

S&P said it revised the outlook for Cast & Crew Payroll LLC to stable from negative, citing better-than-expected metrics.

The stable outlook reflects S&P’s expectation Cast & Crew's adjusted leverage will decline below 7x over the next 12 months, as organic growth from strong ongoing demand for content supports revenue growth in the high-single-digit percent area. “Low capital expenditures (capex), well-managed working capital and high EBITDA margins underlie our expectations for free operating cash flow in the mid-single-digit percent area,” the agency said in a press release.

The agency also affirmed its ratings for Cast & Crew.

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