S&P Upgrades Alliance Laundry to BB- with Positive Outlook
ALH sits 19% above its 52-week low of $18.64.
Summary
S&P Global Ratings upgraded Alliance Laundry's issuer credit rating to BB- from B+, and its senior secured first lien credit facilities to BB from BB- with a recovery rating of 2. The agency assigned a positive outlook, citing continued deleveraging, $50 million of debt paydown in Q2, and strong sales and EBITDA growth. This follows Moody's upgrade in June and reinforces the company's improving credit profile. The positive outlook signals potential for further upgrades over the next 12 months if performance holds.
At the time of this announcement, ALH was trading at $22.26 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $4.4B. The 52-week trading range was $18.64 to $28.23. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.