Relatively small scale and scope of operations with under $500 million in annual revenue. Modest customer concentration and significant foreign exchange (FX) exposure. Leading provider of niche products within the radiation detection industry. Strong long-term revenue visibility within its nuclear power business partly offset by potential short-term variability due to project deferrals. Highly leveraged financial position with debt to EBITDA above 6x in 2017. Financial sponsor ownership and the potential for leverage to increase through acquisitions or dividend payouts. The outlook is stable. Despite weaker than expected revenue growth in 2017, S&P Global Ratings expects modestly improving conditions outside of the U.S., coupled with incremental revenues from new product launches and benefits from cost reduction initiatives, to enable Mirion Technologies
