“The ratings reflect our view of NCH’s very strong financial profile heightened by strong unrestricted reserves combined with other financial metrics, including pro forma maximum annual debt service coverage and unrestricted reserves to debt that, while generally strong, are below medians for the rating,” said S&P analyst Brian Williamson.
The outlook is stable, reflecting S&P’s opinion of NCH’s strong enterprise profile and view that its overall financial profile will continue to improve.
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