...- Concord, Ont.-based Kronos Acquisition Holdings Inc.'s profitability improved during the third quarter of 2022 because of successful pricing actions through the first half of fiscal 2022. In addition, the company appears on target to commence production at its Lake Charles facility for the 2023 pool season. - As a result, we now expect higher EBITDA in fiscal 2023 and that Kronos will sustain a debt-to-EBITDA ratio of about 7.0x over the next 12 months. - Therefore, S&P Global Ratings revised the outlook on Kronos to stable from negative. At the same time, S&P Global Ratings affirmed its 'B-' issuer credit rating on Kronos. - We also affirmed our issue-level ratings on the company's senior secured and unsecured debt. The recovery ratings on the debt are unchanged. - The stable outlook reflects our expectation that Kronos will sustain an adjusted debt-to-EBITDA ratio of about 7x over the next 12 months, supported by its improved EBITDA. We believe the company's operations would benefit...
