Research Update: Mirion Technologies Inc. Upgraded To 'B+' From 'B' On Leverage And Operating Performance; Outlook Stable - S&P Global Ratings’ Credit Research

Research Update: Mirion Technologies Inc. Upgraded To 'B+' From 'B' On Leverage And Operating Performance; Outlook Stable

Research Update: Mirion Technologies Inc. Upgraded To 'B+' From 'B' On Leverage And Operating Performance; Outlook Stable - S&P Global Ratings’ Credit Research
Research Update: Mirion Technologies Inc. Upgraded To 'B+' From 'B' On Leverage And Operating Performance; Outlook Stable
Published May 07, 2024
8 pages (2833 words) — Published May 07, 2024
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Supportive nuclear end markets provide favorable tailwinds for Mirion Technologies Inc.?s portfolio of products such that we believe it will sustain S&P Global Ratings-adjusted debt to EBITDA below 4x over the next 12 months. As a result, we upgraded Mirion to 'B+' from 'B'. At the same time, we raised our issue-level ratings on the company's $90 million revolving credit facility (RCF) due 2026 and $830 million term loan due 2028 to 'B+'. The '3' recovery ratings remain the same. The stable outlook reflects our view that Mirion will likely sustain leverage below 4x, supported by our expectation of favorable end-market demand, while also undertaking modest tuck-in acquisitions. While we anticipate some moderation in top-line revenue growth in 2024 relative

  
Brief Excerpt:

...- Supportive nuclear end markets provide favorable tailwinds for Mirion Technologies Inc.'s portfolio of products such that we believe it will sustain S&P Global Ratings-adjusted debt to EBITDA below 4x over the next 12 months. - As a result, we upgraded Mirion to 'B+' from 'B'. - At the same time, we raised our issue-level ratings on the company's $90 million revolving credit facility (RCF) due 2026 and $830 million term loan due 2028 to 'B+'. The '3' recovery ratings remain the same. - The stable outlook reflects our view that Mirion will likely sustain leverage below 4x, supported by our expectation of favorable end-market demand, while also undertaking modest tuck-in acquisitions....

  
Report Type:

Research Update

Ticker
MION
Issuer
GICS
Electronic Equipment Manufacturers (45203010)
Sector
Global Issuers
Country
Region
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Mirion Technologies Inc. Upgraded To 'B+' From 'B' On Leverage And Operating Performance; Outlook Stable" May 07, 2024. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Mirion-Technologies-Inc-Upgraded-To-B-From-B-On-Leverage-And-Operating-Performance-Outlook-Stable-3166097>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Mirion Technologies Inc. Upgraded To 'B+' From 'B' On Leverage And Operating Performance; Outlook Stable May 07, 2024. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Mirion-Technologies-Inc-Upgraded-To-B-From-B-On-Leverage-And-Operating-Performance-Outlook-Stable-3166097>
  
US$ 225.00
$  £  
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