...- North Carolina-based textile manufacturer Elevate Textiles Inc. did better than we had forecasted during a very challenging year, and S&P Global Ratings now expects the company's credit metrics will return to pre-pandemic levels by the end of 2021. - We revised our outlook to positive from negative and affirmed all our ratings on Elevate, including our '###+' issuer credit rating. - We believe the company has adequate liquidity with $52 million of cash on the balance sheet and $75 million of availability under its $125 million asset-backed lending (ABL) facility. - The positive outlook reflects the possibility of an upgrade in the next 12 months, if the economy and consumer demand for apparel continues to recover and the company's credit metrics continue to strengthen ¡ such that we no longer consider its capital structure to be unsustainable. Under our base case forecast, leverage falls below 8.0x by year-end 2021....
