Research Update: PMHC II Inc. Upgraded To 'B-' On Better-Than-Expected Performance And Forecast For Continued Improvement, Outlook Stable - S&P Global Ratings’ Credit Research

Research Update: PMHC II Inc. Upgraded To 'B-' On Better-Than-Expected Performance And Forecast For Continued Improvement, Outlook Stable

Research Update: PMHC II Inc. Upgraded To 'B-' On Better-Than-Expected Performance And Forecast For Continued Improvement, Outlook Stable - S&P Global Ratings’ Credit Research
Research Update: PMHC II Inc. Upgraded To 'B-' On Better-Than-Expected Performance And Forecast For Continued Improvement, Outlook Stable
Published May 06, 2021
8 pages (3462 words) — Published May 06, 2021
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

PMHC II Inc.'s (doing business as Prince International Corp.) 2020 earnings exceeded our previous expectations due to its cost-savings measures and favorable product mix. We expect the company's EBITDA and credit measures will continue to improve in 2021 supported by an increase in its volumes and the ongoing macroeconomic recovery. Therefore, we raised our issuer credit rating on Prince to 'B-' from 'CCC+' and all of our issue-level ratings on its debt by one notch. All of our recovery ratings on the company's debt are unchanged. The stable outlook reflects our expectation that the improvement in Prince's volumes and demand, combined with its stable debt levels, will lead to a modest improvement in its weighted-average credit measures such that it

  
Brief Excerpt:

...- PMHC II Inc.'s (doing business as Prince International Corp.) 2020 earnings exceeded our previous expectations due to its cost-savings measures and favorable product mix. We expect the company's EBITDA and credit measures will continue to improve in 2021 supported by an increase in its volumes and the ongoing macroeconomic recovery. - Therefore, we raised our issuer credit rating on Prince to 'B-' from '###+' and all of our issue-level ratings on its debt by one notch. All of our recovery ratings on the company's debt are unchanged. - The stable outlook reflects our expectation that the improvement in Prince's volumes and demand, combined with its stable debt levels, will lead to a modest improvement in its weighted-average credit measures such that it maintains S&P Global Ratings-adjusted debt to EBITDA in the 6x-7x range....

  
Report Type:

Research Update

Issuer
PMHC II Inc.
GICS
Diversified Metals & Mining (15104020)
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: PMHC II Inc. Upgraded To 'B-' On Better-Than-Expected Performance And Forecast For Continued Improvement, Outlook Stable" May 06, 2021. Alacra Store. May 01, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-PMHC-II-Inc-Upgraded-To-B-On-Better-Than-Expected-Performance-And-Forecast-For-Continued-Improvement-Outlook-Stable-2643650>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: PMHC II Inc. Upgraded To 'B-' On Better-Than-Expected Performance And Forecast For Continued Improvement, Outlook Stable May 06, 2021. New York, NY: Alacra Store. Retrieved May 01, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-PMHC-II-Inc-Upgraded-To-B-On-Better-Than-Expected-Performance-And-Forecast-For-Continued-Improvement-Outlook-Stable-2643650>
  
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