BOSTON (S&P Global Ratings) May 1, 2020--S&P Global Ratings said that while it expects Teleflex Inc.'s ('BB+/Stable') 2020 revenue and cash flows to be significantly affected by COVID-19 following March recommendations that health care providers delay elective procedures, the company has some cushion within the existing rating. In addition, while we expect a temporary leverage increase in 2020, we project leverage will return to below 3.5x in 2021, after medical procedure volumes normalize. We assess that about one-third of the company's revenues are tied to procedures that could be considered elective, and thus we expect a material impact on Teleflex's earnings and cash flow in the second and third fiscal quarters of 2020. We foresee procedure volumes catching up somewhat
