Standard & Poor's Ratings Services revised its outlook on Sensient Technologies Corp to stable from negative and affirmed its 'BB+' corporate credit and senior unsecured debt ratings on the company.
'The revised outlook is based on the company's improved operating performance, and its total debt to EBITDA improving to below 3X, from 3.7X in fiscal 2005,' S&P said. The improvement was driven by the company's focus on improving operating efficiencies and utilizing free cash flow to reduce debt.
