...- Chart Industries Inc. continues to increase EBITDA, generate free operating cash flow (FOCF), and reduce debt with proceeds of recent divestitures. This resulted in S&P Global Ratings-adjusted leverage (pro forma for a full year of the Howden acquisition) in the mid-5x area in 2023. Although leverage remains elevated, we expect the company will improve to low-3x area in 2024. - As a result, we raised our issuer credit rating to '##-' from 'B+'. At the same time, we raised our issue-level rating on the senior secured term loan and secured notes to '##-' from 'B+' and the rating on the unsecured notes to 'B+' from 'B'. - The stable outlook reflects our view that while integration risks may remain with the combination of Howden, we expect Chart to continue to benefit from secular tailwinds, materially increase EBITDA, generate positive FOCF, and improve S&P Global Ratings-adjusted leverage to the low-3x area in 2024....
