...- Verra Mobility Corp. outperformed our expectations over the last 12 months with S&P Global Ratings-adjusted net leverage improving to the low-3x area as of March 31, 2023. - Additionally, we have reassessed our view of the company's business more favorably due to its track record of profitable growth. In 2023, we forecast the company to generate over $350 million of S&P Global Ratings-adjusted EBITDA with EBITDA margins of about 45%. - Therefore, we raised our issuer credit rating on Verra Mobility to '##-' from 'B+'. - At the same time, we raised our issue-level ratings on the company's senior secured debt to '##' from '##-' and our ratings on the company's senior unsecured debt to 'B' from 'B-'. The recovery ratings on this debt, at 2 and 6, respectively, are unchanged. - The stable outlook reflects our expectation that the company will continue to grow revenues in the 5%-7% range in 2023 while sustaining net leverage well below 4.0x....
