S&P Global Ratings raised ASO’s outlook from stable to positive and affirmed its BB issuer credit rating and debt ratings after a voluntary $100 million term loan repayment in Dec. The debt repayment signals a more conservative long-term financial policy, S&P opined, and ASO could use some of its projected $600 million in annual free operating cash flow to further reduce leverage. S&P adjusted leverage was 1.3x, or 0.7x on a reported basis, for the trailing 12 months ended Oct. 2022, and ... Log in to view full article.