Compass Minerals announced that S&P Global Ratings has upgraded its corporate credit rating to B+ from B with a stable outlook. S&P also raised the rating on the company's senior secured debt to BB from BB- and senior unsecured debt to B+ from B, while recovery ratings remained unchanged. The upgrade reflects debt paydown and improved profitability, with S&P-adjusted leverage falling from 4.2x to 3.1x over the last twelve months, aided by the retirement of $150 million of 2027 senior unsecured notes using sale proceeds and cash. S&P expects leverage to stay below 4x over the next two years, supported by debt reduction, strategic initiatives, and favorable operating performance, though highway deicing volumes may taper next year.
Compass Minerals International IncS&P upgrades Compass Minerals' credit rating to B+ from B, reflecting debt paydown and improved profitability.
S&P Global Inc