Compass Minerals Announces S&P Global Ratings Upgrade to B+
S&P Global Ratings upgraded Compass Minerals' corporate credit rating to B+ from B with a stable outlook, citing significant debt paydown and improved profitability. The rating agency noted that leverage fell to 3.1x from 4.2x over the last 12 months after the company used asset sale proceeds and cash to retire $150 million of 2027 senior unsecured notes.
Key figures
- Debt retired
- $150 million
- Rating secured
- BB (from BB-)
- Rating corporate
- B+ (from B)
- Rating unsecured
- B+ (from B)
- Sp leverage prior
- 4.2x
- Sp leverage current
- 3.1x
AI analysis
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