Avantor® Announces Credit Rating Upgrade by S&P Global Ratings

Company's issuer credit default rating upgraded two notches to 'BB+'/Stable

New rating based on solid revenue expansion, deleveraging and very strong cash flow

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Feb 10, 2021, 08:37 ET

RADNOR, Pa., Feb. 10, 2021 /PRNewswire/ -- Avantor, Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences and advanced technologies & applied materials industries, today announced that S&P Global Ratings upgraded its credit rating to 'BB+'/Stable Outlook.

"We are pleased with S&P Global Ratings' decision to upgrade our rating to BB+ with a stable outlook," said Thomas Szlosek, Executive Vice President and Chief Financial Officer at Avantor. "We executed extremely well in a challenging environment. Our fully integrated business model enables us to support our customers in virtually every phase of their research to scale up and production, leading to our strong operational performance and growth."

About Avantor
Avantor^®, a Fortune 500 company, is a leading global provider of mission-critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries. Our portfolio is used in virtually every stage of the most important research, development and production activities in the industries we serve. One of our greatest strengths comes from having a global infrastructure that is strategically located to support the needs of our customers. Our global footprint enables us to serve more than 225,000 customer locations and gives us extensive access to research laboratories and scientists in more than 180 countries. We set science in motion to create a better world. For more information, please visit www.avantorsciences.com.

Forward-Looking and Cautionary Statements
This press release contains forward-looking statements. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements discuss our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. These statements may be preceded by, followed by or include the words "aim," "anticipate," "believe," "estimate," "expect," "forecast," "intend," "likely," "outlook," "plan," "potential," "project," "projection," "seek," "can," "could," "may," "should," "would," "will," the negatives thereof and other words and terms of similar meaning.

Forward-looking statements are inherently subject to risks, uncertainties and assumptions; they are not guarantees of performance. You should not place undue reliance on these statements. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that our assumptions made in connection with the forward-looking statements are reasonable, we cannot assure you that the assumptions and expectations will prove to be correct. Factors that could contribute to these risks, uncertainties and assumptions include, but are not limited to, the factors described in "Risk Factors" in our 2019 Annual Report on Form 10-K and our quarterly reports on Form 10-Q for the first, second and third quarters of 2020, as such risk factors may be updated from time to time in our periodic filings with the SEC.

All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. In addition, all forward-looking statements speak only as of the date of this press release. We undertake no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise other than as required under the federal securities laws.

Global Media Contact
Allison Hosak
Senior Vice President, Global Communications and Brand
Avantor
+1 908-329-7281
[email protected]

Investor Relations Contact
Tommy J. Thomas, CPA
Vice President, Investor Relations
Avantor
+1 781-375-8051
[email protected]

SOURCE Avantor and Financial News