Chart Industries Credit Rating Outlook Changed to “Positive” at Moody’s
09 Avril 2024 - 10:05PM
Chart Industries, Inc. (NYSE: GTLS) (“Chart”), a leading global
solutions provider to clean energy and industrial gas markets,
announces that Moody’s Ratings (Moody’s) has changed the outlook on
Chart’s credit ratings from “Stable” to “Positive”. Moody’s
affirmed Chart’s corporate family rating of “B1”, senior unsecured
rating of “B3”, senior secured notes rating of “Ba3” and senior
secured bank credit facilities rating of “Ba3”. At the same time,
Chart’s speculative grade liquidity rating was upgraded to SGL-2
and credit impact score was upgraded to CIS-3.
These ratings actions reflect Chart’s strong backlog,
outperformance of commercial and cost synergy targets associated
with the Howden acquisition, and progress in deleveraging towards
its 2.0X to 2.5X net leverage target as well as secular market
tailwinds.
“This ratings action demonstrates continued strength in our
business,” stated Jill Evanko, Chart’s CEO and President. “We are
committed to our financial policy of deleveraging and will not do
any material cash acquisitions or share repurchases until we are in
our target net leverage range of 2.0X to 2.5X.”
About Chart IndustriesChart Industries, Inc. is
an independent global leader in the design, engineering, and
manufacturing of process technologies and equipment for gas and
liquid molecule handling for the Nexus of Clean™ - clean power,
clean water, clean food, and clean industrials, regardless of
molecule. The company’s unique product and solution portfolio
across stationary and rotating equipment is used in every phase of
the liquid gas supply chain, including engineering, service and
repair and from installation to preventive maintenance and digital
monitoring. Chart is a leading provider of technology, equipment
and services related to liquefied natural gas, hydrogen, biogas,
and CO2 capture amongst other applications. Chart is committed to
excellence in environmental, social, and corporate governance (ESG)
issues both for its company as well as its customers. With 64
global manufacturing locations and over 50 service centers from the
United States to Asia, Australia, India, Europe, and South America,
the company maintains accountability and transparency to its team
members, suppliers, customers, and communities. To learn more,
visit www.chartindustries.com.
Investor Contact:
John WalshVP, Investor
Relations770-721-8899john.walsh@chartindustries.com
Chart Industries (NYSE:GTLS)
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