...June 4, 2024 - U.S.¡based Clarios Global L.P.'s credit metrics have improved through debt repayment, sustained operating performance, and improved cash flow. We now expect the company will maintain leverage below 5x and free operating cash flow (FOCF) to debt above 5% despite sponsor ownership by Brookfield. - Therefore, we raised our issuer credit rating on the company to '##-' from 'B+'. - At the same time, we also raised our issue-level rating on Clarios' senior secured debt to '##-' from 'B+'. The recovery rating remains '3'. We also raised our issue-level rating on the company's senior unsecured debt to 'B' from 'B-' The recovery rating remains '6'. - The stable outlook reflects our expectation that the company will maintain leverage below 5x and FOCF to debt in excess of 5% over the longer term. NEW YORK (S&P Global Ratings) June 4, 2024--S&P Global Ratings today took the rating actions listed above. The upgrade reflects our view that the company will maintain a more conservative...
