IAP Worldwide has had a credit upgrade from Standard & Poor’s to a B from a B- with a stable trend.
“The S&P upgrade came as the result of improved operating performance and a stronger liquidity profile for IAP, which results in credit measures that justify a higher rating, ” according to S&P credit analyst Dan Picciotto.
IAP’s outlook is considered stable by S&P characterizes the firm’s outlook as “stable” and current ratings indicate it expects IAP to continue generating a positive cash flow.
“The improved credit rating is the result of a very strong year for IAP both operationally and financially, ” CFO Charles Peiffer said. “As our operations continue to improve and we find new sources of revenue, I expect our S&P rating to climb.”