...- Water treatment products manufacturer Innovative Water Care Global Corp.'s (doing business as Sigura Water) continues to increase EBITDA, reflecting management's execution on improving the company's cost structure and increasing revenues on account of new customer wins, and higher industry demand. - As a result, S&P Global Ratings raised its issuer credit rating on Sigura Water to 'B-' from '###+'. - We also raised our issue-level rating on Sigura Water's $360 million first-lien term loan due in February 2026 to 'B-' from '###+' with a recovery rating of '3' (reflecting a rounded recovery estimate of 50% in the event of a payment default) and our rating on its $100 million second-lien term loan due in February 2027 to '###+' from '###' with a recovery rating of '5' (rounded estimate: 10%). - The stable outlook reflects Sigura Water's improved profitability, as many one-time costs have now ceased, higher volumes in its pool treatment segment, and better cost management. The outlook also...
