...- Italy-based high-end lighting and furniture company International Design Group (IDG) reported resilient performance despite COVID-19-related setbacks, supporting S&P Global Ratings-adjusted leverage close to 6.0x in 2020. - The company's plan to acquire YDesign translates to slightly higher leverage of close to 6.5x pro forma the transaction (including full contribution of YDesign). - IDG intends to issue 470 million of floating rate notes to finance the 150 million acquisition and to refinance its existing 320 million notes maturing in 2025. - We therefore revised to stable from negative the outlook on IDG, and affirmed our 'B' ratings on the company and its existing debt. At the same time, we assigned our 'B' issue credit rating to the proposed 470 million senior secured floating rate notes, maturing in five to seven years. - The stable outlook reflects our view that IDG's leverage metrics will likely remain in the 6.0x-6.5x area over 2021-2022. Additionally, we expect annual free operating...
