Avantor Inc. Outlook Revised To Stable From Developing, Ratings Affirmed; New Debt Assigned Ratings - S&P Global Ratings’ Credit Research

Avantor Inc. Outlook Revised To Stable From Developing, Ratings Affirmed; New Debt Assigned Ratings

Avantor Inc. Outlook Revised To Stable From Developing, Ratings Affirmed; New Debt Assigned Ratings - S&P Global Ratings’ Credit Research
Avantor Inc. Outlook Revised To Stable From Developing, Ratings Affirmed; New Debt Assigned Ratings
Published Sep 05, 2017
4 pages (1596 words) — Published Sep 05, 2017
Price US$ 150.00  |  Buy this Report Now

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Abstract:

Specialty materials manufacturer Avantor Inc. plans to acquire Radnor, Pa.-based laboratory supply distributor VWR Corp. for approximately $6.4 billion. Leverage, including the preferred stock, will be high at about the mid 11x area, and excluding the preferred stock it will be around 7.7x. We are affirming our 'B' corporate credit rating on Avantor Inc. and revising the outlook to stable from developing. The stable outlook reflects the increased scale and diversity of the combined entity, despite higher leverage, and our expectation that the company will generate steady growth and moderate free cash flow. NEW YORK (S&P Global Ratings) Sept. 5, 2017-- S&P Global Ratings affirmed its 'B' corporate credit rating on Center Valley, Pa.-based Avantor Inc. and revised the outlook

  
Brief Excerpt:

...+ Specialty materials manufacturer Avantor Inc. plans to acquire Radnor, Pa.-based laboratory supply distributor VWR Corp. for approximately $6.4 billion. + Leverage, including the preferred stock, will be high at about the mid 11x area, and excluding the preferred stock it will be around 7.7x. + We are affirming our 'B' corporate credit rating on Avantor Inc. and revising the outlook to stable from developing. + The stable outlook reflects the increased scale and diversity of the combined entity, despite higher leverage, and our expectation that the company will generate steady growth and moderate free cash flow. NEW YORK (S&P Global Ratings) Sept. 5, 2017-- S&P Global Ratings affirmed its 'B' corporate credit rating on Center Valley, Pa.-based Avantor Inc. and revised the outlook to stable from developing. In addition, we assigned a 'B' rating to Avantor's US$1.4 billion and 500 million secured notes. We assigned a 'B' rating to the secured credit facility, consisting of a US$250 million...

  
Report Type:

Ratings Action

Ticker
1491020D
Issuer
GICS
Life Sciences Tools & Services (35203010)
Sector
Global Issuers
Country
Region
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MLA:
S&P Global Ratings’ Credit Research. "Avantor Inc. Outlook Revised To Stable From Developing, Ratings Affirmed; New Debt Assigned Ratings" Sep 05, 2017. Alacra Store. Mar 29, 2024. <http://www.alacrastore.com/s-and-p-credit-research/Avantor-Inc-Outlook-Revised-To-Stable-From-Developing-Ratings-Affirmed-New-Debt-Assigned-Ratings-1910353>
  
APA:
S&P Global Ratings’ Credit Research. (). Avantor Inc. Outlook Revised To Stable From Developing, Ratings Affirmed; New Debt Assigned Ratings Sep 05, 2017. New York, NY: Alacra Store. Retrieved Mar 29, 2024 from <http://www.alacrastore.com/s-and-p-credit-research/Avantor-Inc-Outlook-Revised-To-Stable-From-Developing-Ratings-Affirmed-New-Debt-Assigned-Ratings-1910353>
  
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