Research Update: Curia Global Inc.'s Liquidity Revised To Adequate, 'CCC+' Rating Affirmed; Outlook Negative - S&P Global Ratings’ Credit Research

Research Update: Curia Global Inc.'s Liquidity Revised To Adequate, 'CCC+' Rating Affirmed; Outlook Negative

Research Update: Curia Global Inc.'s Liquidity Revised To Adequate, 'CCC+' Rating Affirmed; Outlook Negative - S&P Global Ratings’ Credit Research
Research Update: Curia Global Inc.'s Liquidity Revised To Adequate, 'CCC+' Rating Affirmed; Outlook Negative
Published Apr 19, 2024
7 pages (2644 words) — Published Apr 19, 2024
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Albany, N.Y.-based pharmaceutical contract development and manufacturing organization (CDMO) Curia Global Inc. has improved its liquidity position. Still, the company continues to incur negative free operating cash flow (FOCF) and its first-lien term loan matures in August 2026. As a result, we revised our assessment of its liquidity to adequate from less than adequate and affirmed our 'CCC+' issuer credit rating. At the same time, we affirmed our 'CCC+' rating on the company's first-lien debt. The recovery rating on this debt remains '3'. The negative outlook reflects still-significant FOCF deficits and the potential that we could lower our rating on Curia due to deteriorating liquidity or its approaching maturity in 2026. The negative outlook reflects the potential that we could

  
Brief Excerpt:

...- Albany, N.Y.-based pharmaceutical contract development and manufacturing organization (CDMO) Curia Global Inc. has improved its liquidity position. Still, the company continues to incur negative free operating cash flow (FOCF) and its first-lien term loan matures in August 2026. - As a result, we revised our assessment of its liquidity to adequate from less than adequate and affirmed our '###+' issuer credit rating. - At the same time, we affirmed our '###+' rating on the company's first-lien debt. The recovery rating on this debt remains '3'. - The negative outlook reflects still-significant FOCF deficits and the potential that we could lower our rating on Curia due to deteriorating liquidity or its approaching maturity in 2026....

  
Report Type:

Research Update

Issuer
Curia Global Inc.
GICS
Life Sciences Tools & Services (35203010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Curia Global Inc.'s Liquidity Revised To Adequate, 'CCC+' Rating Affirmed; Outlook Negative" Apr 19, 2024. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Curia-Global-Inc-s-Liquidity-Revised-To-Adequate-CCC-Rating-Affirmed-Outlook-Negative-3155630>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Curia Global Inc.'s Liquidity Revised To Adequate, 'CCC+' Rating Affirmed; Outlook Negative Apr 19, 2024. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Curia-Global-Inc-s-Liquidity-Revised-To-Adequate-CCC-Rating-Affirmed-Outlook-Negative-3155630>
  
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